Happy weekend all,
I normally just lurks around and read all the trade and setup shared by others, and have learnt a lot from it. Thank you to all of you.
I just want to share my view on GU, and may be can get some feedback from you guys.
Last week saw GU goes back and forward between the M30 UTL and the H4 lower channel. Price was rejected in total 3 times until Friday by the UTL but at the end manage to close above the UTL before market close.
The H4 lower channel also shows strong support since a +ive USD news and a -ive GBP news is unable to close below the channel. Here is chart:
http://www.forexfactory.com/attachme...hmentid=623430
On the Daily also we can see that price manage to close above the UTL (although only slightly) before the market close. Here is the chart:
http://www.forexfactory.com/attachme...hmentid=623431
This may indicate that GU is still bullish next week ( no retrace yet) and may be targeting 1.6170ish. What do you guys think?
I normally just lurks around and read all the trade and setup shared by others, and have learnt a lot from it. Thank you to all of you.
I just want to share my view on GU, and may be can get some feedback from you guys.
Last week saw GU goes back and forward between the M30 UTL and the H4 lower channel. Price was rejected in total 3 times until Friday by the UTL but at the end manage to close above the UTL before market close.
The H4 lower channel also shows strong support since a +ive USD news and a -ive GBP news is unable to close below the channel. Here is chart:
http://www.forexfactory.com/attachme...hmentid=623430
On the Daily also we can see that price manage to close above the UTL (although only slightly) before the market close. Here is the chart:
http://www.forexfactory.com/attachme...hmentid=623431
This may indicate that GU is still bullish next week ( no retrace yet) and may be targeting 1.6170ish. What do you guys think?