Bull flag forming on NG1! daily chart.
Price consolidated in that pattern between 2 weekly zones and when it finally broke, bull momentum slowed and profit taking occurred.
I expect a retest on the upper channel before a charge to the 3.0 level.
This is one of those text book flag-retest setup
Opportunities to swing trade this commodity have been far and apart but a bull move seems to be what the market is signalling.
How I shall trade this:
1. I will be placing a buy Limit at the 2.75 area with an initial target at 2.90
2. A slightly smaller aggressive entry above the high of the Monday close with at target at 3.00
Happy Trading!
Price consolidated in that pattern between 2 weekly zones and when it finally broke, bull momentum slowed and profit taking occurred.
I expect a retest on the upper channel before a charge to the 3.0 level.
This is one of those text book flag-retest setup
Opportunities to swing trade this commodity have been far and apart but a bull move seems to be what the market is signalling.
How I shall trade this:
1. I will be placing a buy Limit at the 2.75 area with an initial target at 2.90
2. A slightly smaller aggressive entry above the high of the Monday close with at target at 3.00
Happy Trading!
Trade active:
Major Profit Alert!
Comment:
First Target (2.90) Reached, aggressive entry is now climbing to look for 3.00
