I just recently added this pair to my portfolio, due to the negative correlation to GBPUSD. I've implemented hedging into my strategy, here we have clear supply zone at London session open, and since GBPUSD looks bullish, i'm looking for shorts here. If price can form clear bearish indication by breaking through, closing under, and respecting under the. 38 rejection level by retesting it as a new resistance level, I'm confident in it's trend continuation. Time will tell. Feel free to leave feedback
Comment:
Luckily didn't place the trade yet, still looking for that confirmation around the .38% level. Patience is key, if price continues in this trend I will look for new opportunity, but GU still looks bullish to me so I'll be waiting to retrace back to my golden zone, where I then will enter this position.
Trade closed manually:
As you can see today price has been ranging between 2 supply and demand zones. I did enter when price retraced to golden zone around when US unemployment claims and GDP came out, but manually closed my position at tp 3 due to the risk of previous resistance becoming new support. I will start to try and post all of the different pairs that I execute on more often.