NG - Multi year Asc Tri - will it close the gap and pop 30%? If bullish - prior triangle broken down, ends up touching BAGL for limit order fill
Still have prior leverage from prior Asc Tri aggressive limit order filled on BAGL
Decided not to close out on stop as gapped lower - nurse maiding the trade
Bullish case is to hold on and see if the gap fills setting sell order inside top of gap
Then to re- acquire if the price goes back for another BAGL touch
Disclaimer - purely for fun, and interest only. But I will give a huge smile if it works out!
This would be a great example of how to manage a trade when the MM gap through your stop on unpredictable new news.
Now that the election in UK - voting today right at the resistance point which is also interesting
On yearly patterns these can be forgiving if you find yourself underwater in the red on a trade due to aggressive early entry. What is the best thing to do take the loss or manage your way out of the trade. I choose to manage the way out and I am now today OK.
So would I if I consider the bull case enter again long here to grab the gap ? I think so, if I am wrong its enough time to get out flat. If I am right and the Asc Tri breaks up then you are looking at 30% return for an almost zero risk.
If we have another leg down to the BAGL look to fill with limits if bullish
