PG Channel Trade - Oversold/Bounce

15 Oca

PG set up for bounce. Staple goods. Looking for reversal confirmation.

21 Oca

İşlem aktif

Strong bounce off the lower trendline to the first resistance level at 161.86. Earnings tomorrow pre-market will determine if 161.86 turns into support as we move towards 166-172 or if we fall back down to lower trendline at 156-160

22 Oca

İşlem kapandı: hedefe ulaştı

Gapped up to $167 driven by earnings report.

Hit our 2nd PT of 166.50 and trimmed 25% of contracts for profit.

Lots of expiry on these so letting the rest cook

28 Oca

Not

$169.94 new local high reached. trimmed additional contracts here and leaving 20% as runners. Considering this trade closed with some riskier upside left.

29 Oca

Not

Currently trading around support at $166.

Macro momentum will likely decide if PG move towards $172 or chops near spot.