i promised my self to turn off pc but couldn't resist.....
this is the h4 view of current GU price.
there is a nice parallel channel (black).
after a bounce in 1.57 area 2 weeks ago price touch down again on lower channel.
now find some problems to breake down and looks like printing a kind of bear flag, since unabe to get above its WP near 1.5715.
but also true that price came out the dotted steep descending line.
there are some more interestings things to look at:
1. the 1.5850 area (gray): it is previous LH and, depending on month close price, will be also monthly pivot area + upper channel possible 3rd test.
2. 1.5600 historycally good rejection area.
3. 1.5530-40 another great support area. (must not forget 5570-80)
this is why i say that if price conquer this WP, the move into 1.58 is very possible. if happens, downtrend will be 'safe' and can be a great area where overload in short.
on the other side, below here i see full reasons to catch a long starting from 1.5600 to 1.5530 i will be looking to overload it.
of course... according to OPA (overall price action)!!
this is the h4 view of current GU price.
there is a nice parallel channel (black).
after a bounce in 1.57 area 2 weeks ago price touch down again on lower channel.
now find some problems to breake down and looks like printing a kind of bear flag, since unabe to get above its WP near 1.5715.
but also true that price came out the dotted steep descending line.
there are some more interestings things to look at:
1. the 1.5850 area (gray): it is previous LH and, depending on month close price, will be also monthly pivot area + upper channel possible 3rd test.
2. 1.5600 historycally good rejection area.
3. 1.5530-40 another great support area. (must not forget 5570-80)
this is why i say that if price conquer this WP, the move into 1.58 is very possible. if happens, downtrend will be 'safe' and can be a great area where overload in short.
on the other side, below here i see full reasons to catch a long starting from 1.5600 to 1.5530 i will be looking to overload it.
of course... according to OPA (overall price action)!!
Yesterday was the past