PEP Sell Set-Up
Updated
We were watching PEP a few days ago when we had a bear div on the daily during a weekly downtrend. Didn't take a short at the bear div because was concerned about R:R and where to take a short.
At yesterday's daily close, the pot sweetened for a PEP short as we moved up without invalidating the bear div and closed with a long upward wick (but green).
There's two ways to set this stop: Either set it very tight and damage your win rate, or set it loose and risk a larger % loss. It's not an easy choice but it has to be made so I chose the tight stop.
At yesterday's daily close, the pot sweetened for a PEP short as we moved up without invalidating the bear div and closed with a long upward wick (but green).
There's two ways to set this stop: Either set it very tight and damage your win rate, or set it loose and risk a larger % loss. It's not an easy choice but it has to be made so I chose the tight stop.
Comment
No entry yet, watch for entry when market opens todayTrade active
Entry @ 108.66Trade closed: stop reached
Stop loss reached at 110.64. Result -1.79%
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