ChartArt
Long

PG: Open gap as price target means a move higher is coming soon

NYSE:PG   PROCTER & GAMBLE CO
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Last week marked a potential low for the month of May. Therefore a move upwards could push "PG" back into the trend channel towards the open gap.

Entry: Above $71
Target: Open gap, above $76
Stop loss: Last week's low, $70
Well done! on tf under one day is correct. The correction to the last move down can start in every moment. but in a bigger picture should close in 5w's downward movement( wave C). Then he will go up, in my opinion.


+1 Reply
@cmc, Thank you for sharing your chart. It looks like you see something like for example a rising wedge pattern as remaining risk in the intermediate-term.

Based upon my idea PG is going to move straight up towards the target area (open gap) with only minor pullbacks in between. Let's see.
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