Mar 13, 22 NG Which way will this week?

So last week NG went from around 5.1 down to 4.5 and closed out the week at around 4.7. This makes it hard to say if price will drop back to 4.5 or if it will rise up to over 5 with what's going on in the world.

I think I will play this week like this - if price action comes down to 4.5 by Wed, put in a Buy Order there expecting price to go up into next week. Set my TP at 5.1, maybe 5.4 depending on strength of price action.

If price goes up right away to 5ish, then I have no idea what I will do - Will it keep going up to 5.5? Or will it just come back down as the week progresses to 4.5?

Let me know your thoughts. Stay safe.

Heiko

Trade active:

Comment:

Price almost hit 4.5 this morning, but then started to reverse strongly so I got in at 4.550 for a Buy Order.
I'm looking at 5 for a TP area. Obviously a lot will depend on info coming out this week. The Fed is expected to raise interest rates a quarter point, but they might surprise at half a percent which would probably send the markets tumbling.
We shall see.

Stay safe.

Heiko