Welcome to our Weekly V2-Trade Setup ( PG ) !
Small pullback towards previous sr level.
Expecting more bullish pa now!
Good long setup..
ENTRY LEVEL @ 143.37
SL @ 140.98
TP @ Open
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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- After clean pierce of key level followed by daily retest and wick rejection, can anticipate move to short term move to upside (TP1)
- In long run, expecting some nice bullish momentum going into the rest of Q2
Dow component and consumer staples giant PG has only falled 5.6% from the highs, compared to nearly 20% in the general market. It did not participate in the second of the three collapses in Q4. The price action from July-August can now be seen as the upper half of a pitchfork, and we are now at the lower half and right on the 50-day SMA. This is a gamble on Q4...