I was too early on my first go at PG bouncing off of this strong support level. I should have taken note of the bear strength that drove price downward and anticipated some sort of pull back and retest.
The bear pressure has since rounded out and we've got a nice swing-low, deep in the support area. The swing-low candle itself was a hammer, followed by a decently bullish day, making for a convincing little pattern that price may finally be ready to turn around.
The bear pressure has since rounded out and we've got a nice swing-low, deep in the support area. The swing-low candle itself was a hammer, followed by a decently bullish day, making for a convincing little pattern that price may finally be ready to turn around.
Comment:
This one finally popped a few days ago. Didn't take this one in my live account but I would have been stopped out if I did!