After good upward momentum in the last two days, GU trickled back with a small overnight pull-back. The question, was, "how far would the pullback go"?
Keeping a close eye on previous demand zones, the one seen on the 5 min chart below proved to a be a good entry point.
There was no guarantee of it working out, but the risk was very small so for me, it was worth the investment.
If you open a 5 min chart and scroll back, you'll notice that the same level had been a supply zone on Tuesday.
Rob
Keeping a close eye on previous demand zones, the one seen on the 5 min chart below proved to a be a good entry point.
There was no guarantee of it working out, but the risk was very small so for me, it was worth the investment.
If you open a 5 min chart and scroll back, you'll notice that the same level had been a supply zone on Tuesday.
Rob