TF: 1 Hr
GU has been in a complex sideways correction. Looking at volume profile for the correction (Oct .4th to today) and also applying a separate volume profile to the wave to the downside that occurred in London and continued in the NY session today, shows that price has landed right on the POC for the correction (Oct. 4th to today) and also the today's down wave POC.
I would expect to see show correction here followed by a high volume move out of this area.
For downside moves outside of this correction, I think $1.2125 to $1.2100 looks like an area of interest.
If price decides to make a move up I think the initial areas of interest are $1.23.
GU has been in a complex sideways correction. Looking at volume profile for the correction (Oct .4th to today) and also applying a separate volume profile to the wave to the downside that occurred in London and continued in the NY session today, shows that price has landed right on the POC for the correction (Oct. 4th to today) and also the today's down wave POC.
I would expect to see show correction here followed by a high volume move out of this area.
For downside moves outside of this correction, I think $1.2125 to $1.2100 looks like an area of interest.
If price decides to make a move up I think the initial areas of interest are $1.23.