National Grid's current resistance is @ 805.9 and the support has been raising over the few days gradually. For this to breakout and continue to rise higher the chart needs to continue to consolidate in the last part of the ascending wedge. If the chart plays out as expected my game plan would be the following:
Trigger: 809.9
TP: 839.9
SL: 803.9
RR: 5:1
Once I'm in the trade I will continue to trail my SL to the low of the day 2 days ago, this is so I'm able to recover some profit or reduce my loss just incase the trade goes the opposite way very quickly.
Trigger: 809.9
TP: 839.9
SL: 803.9
RR: 5:1
Once I'm in the trade I will continue to trail my SL to the low of the day 2 days ago, this is so I'm able to recover some profit or reduce my loss just incase the trade goes the opposite way very quickly.