Its a potential HnS on Naspers. Last weeks candle instigated a Tk cross over and we now have kijun over the tenkan which is a bearish signal.We have a bearish outlook on our international indices for the coming week and Naspers is positively correlated to them esp the US markets so that adds to our confluence. We might get stopped out but we will get back in if we get bearish price action on lower timeframe. We put in 2 small positions for the trade.
Entry: 313582
SL : 323000
TP1 : 281000 (RR-3.46)
TP2 : 260100 (RR-5.68)
Position sizing is crucial!
Entry: 313582
SL : 323000
TP1 : 281000 (RR-3.46)
TP2 : 260100 (RR-5.68)
Position sizing is crucial!
