Hey traders, today I share a pairs trade I put on, going long $PEP and short $MNST in equal amounts betting on a reversion to the mean in the next couple of days and with a tight stop loss to limit the downside.
These are two similar stocks which make for a great pair and you can see on the Range Strength indicator the pair is currently trading in a strong range which is what we want to see before we take a signal from the Buy Sell Bands.
Stay tuned as i'll be updating this trade idea as it progresses.
Have a great weekend!
Jared
These are two similar stocks which make for a great pair and you can see on the Range Strength indicator the pair is currently trading in a strong range which is what we want to see before we take a signal from the Buy Sell Bands.
Stay tuned as i'll be updating this trade idea as it progresses.
Have a great weekend!
Jared