NG is trying to breakout
nymex NG hourly chart
This is nymex Ng hourly chart. You can see, rising wedge and its downward breakout, red arrow tgt achived, as mentioned in last post abut NG. NOw after consolidation, price is trying to breakouut something like falling wedge. If it break trendline Northward, it can fly up. on mcx cmp is 208 around.
If failed to breakout this time, NG price can go down toward 202 and then return back towards 205 and will again try to breakout there. This is so because upper line is southward moving.
Thank you, Jay Shriram.
Update final, 08.44 p.m, 5 th May 2017
I booked my profits at 208.50 and made exit because NG price touched 16 times to resistance line of this wedge like thing. You can wait with trailing sl or ctc sl. Thanking you, Jay Shriram. post is closed.
