NG. - Long: bull flag breakout
NG. has formed a bull flag with a falling parallel channel and is about to breakout. Bull flag is a continuation pattern so woith complete formation of bull flag, expected price target is 1230 which 24% profit from current price.
If we connect two highest points on a weekly point, they coincide with the same price target of 1230, completing formation of a bull flag.
Price is also above SMA200.
If price retraces back to lower parallel channel trendline, this would be a good add level as there is strong support zone in Weekly timeframe
Enter: Current Market Price
SL: 930
TP: 1230
R/R: 1:3.89
If we connect two highest points on a weekly point, they coincide with the same price target of 1230, completing formation of a bull flag.
Price is also above SMA200.
If price retraces back to lower parallel channel trendline, this would be a good add level as there is strong support zone in Weekly timeframe
Enter: Current Market Price
SL: 930
TP: 1230
R/R: 1:3.89
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.