PlanTradePlanMM
Long

PG Long, Using EMA144 and SMA50 as support

NYSE:PG   PROCTER & GAMBLE CO
I combined my two scrips: Buy in long term uptrend and Draw SMA50 swing
I found EMA144 also good to be used in 60M chart to verify trend direction.

Condition:
Weekly chat: V Pattern,
60M:
1. Double Bottom
2.SMA50 Cross Over EMA144
3. Demand zone is confirmed
4. Trend line Break (TLB1)

Earning date: 7/17/2020 7:00 AM ET -- Earning will not affect this plan.

Entry: 117
Stop: 114.5; when Below EMA144
Target: 125; risk/reward=1:3

This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Trade active: Buy OCT 125 call limit 2.83;
Option Stop 114;

Comments

Hello, I got a question: how demand zone is confirmed? Thank you
Reply
PlanTradePlanMM AndersonRak
@AndersonRak, The price touched demand zone, and went up. That shows the demand zone still has unfilled buy orders. It is called "Confirmation Entry" above the demand zone.
If Price goes down under demand zone, that shows the institutions cancelled the unfilled buy orders. So, Do not buy.
Reply
AndersonRak PlanTradePlanMM
@PlanTradePlanMM, Thank you so much for explaining. It is very interesting.
Reply
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