I was looking at GU all morning. First price was above 200EMA (around London Open) so I was waiting for a long setup, then the price moved through the 200EMA but no short signal yet.
Now price found a support on that H1 TL and is forming a base. RSI is also curving from below 30 area. But a long would be against the rule as now price is below 200EMA and we would enter on a pull back of the earlier strong bearish move.
The only option would be to wait. Right TK5?
Now price found a support on that H1 TL and is forming a base. RSI is also curving from below 30 area. But a long would be against the rule as now price is below 200EMA and we would enter on a pull back of the earlier strong bearish move.
The only option would be to wait. Right TK5?