Pennon Long

Hi ALL

Reason for Trade

Weekly Trend up see chart L-H + HL-HH + HL

Entry above weekly bias change on pull back and above HH & 566

I waited for price to break conjestion between 8th and 29th of July
Price has also broken abv Sept monthly PP . It would appear that upward momentum has resumed
entry is set for PB to 50% of candle that is above sept monthly PP.
Stop is placed just below this weeks bullish move at 566 wich is also an S&R zone.

Target 649

Hi

Pennon has triggerd me in to the pip & 585
see fridays pin bar my entry is at the end of the tail

Regards

Hi

Pennon has moved nicely in my direction over the last
few days has now hit res at 604 see chart. Lets see
what happens will it breaK res???

Regards

Pennon has broken res at 604 and monthly r1 but not
moved much further.

See chart

Moved S Loss to 600 locking in 14 points profit.

Price moved sideways bouncing between 603 and 616 for a few days

I was hoping price would continue in my direction as it was price broke downwards hit S Loss

for .7 Risk profit

Lesson Learned

To split trades 75%/ 25% set a limit order at T1 prev high low
or next weekly S&R. Leave 25% on the table at BE.

on this one I would have exited at 612 an extra 12 points

see chart