PG on downtrend continuance
On the 2 hr chart, PG was fighting heavy resistance for month. The supply /resistance zone is
on the chart from the Luxalgo indicator. Multiple touches but the zone was not broken.
Price has retraced down beyond the 0.5 Fib level. PG is tracking well with XLP the consumer
staples ETF shown as a thin black line on the chart.
The Luxaglo Echo indicator, a predictive AI tool suggests that price will retest the 0.5 Fib level
and then descend to the support /demand zone with a volume mean of 149.5.
I will take a short position with put contracts with a strike of $ 154 above the Fib 0.5 level
with DTE of 6 = 5/26.
For the stock position, I will set a sell limit of $153 also with a stop loss of $ 154 with the
the target for 2/3 of the position at $ 150 and the remaining third is to watch to see if the
zone brakes. I believe that this is a safe trade in a low-volatility stock set to capture
profit advantaging the prevailing trend running in concert with the subsector ETF.
on the chart from the Luxalgo indicator. Multiple touches but the zone was not broken.
Price has retraced down beyond the 0.5 Fib level. PG is tracking well with XLP the consumer
staples ETF shown as a thin black line on the chart.
The Luxaglo Echo indicator, a predictive AI tool suggests that price will retest the 0.5 Fib level
and then descend to the support /demand zone with a volume mean of 149.5.
I will take a short position with put contracts with a strike of $ 154 above the Fib 0.5 level
with DTE of 6 = 5/26.
For the stock position, I will set a sell limit of $153 also with a stop loss of $ 154 with the
the target for 2/3 of the position at $ 150 and the remaining third is to watch to see if the
zone brakes. I believe that this is a safe trade in a low-volatility stock set to capture
profit advantaging the prevailing trend running in concert with the subsector ETF.
Feragatname
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