National Grid (NG.)

also you have to be careful with a gap up as you said its a sign of strength. This one is a risky short as the markets are looking a bit more bullish today so shorts could be risky apart from a very short term trade basis.

Thank you both! I was taking the gap up this close to resistance as a bullish signal, but I guess given the rise already and strong resistance, it's fairly likely it will retrace to at least fill the gap before proceeding.

This was a first attempt trade at resistance. This trade should be closed down if the price finishes the day close to this level.

For first attempt trade for a short, which has already triggered but very risky trade as its at strong resistance and at an all time high.

Using a 5 point stop but will look to reverse the trade if it breaks out.

I assume you are talking about watching for a break and backtest of resistance to go long? (sorry, learner Q!)

Cheers
Woody

Gapped up and very close to resistance, one to watch..


dl.dropboxusercontent.com/u/4899609/ng270514.png