GU seems to be forming an inverted head and shoulders pattern - Im in off break and retest of the neckline and will look to scale in once zone breaks and retests. if you want to wait for more confirmation from then on then feel free but trade at your own risk.
looking at long bias. currently 100 pips up, waiting for price to get out of this minor consolidation zone.
- Weekly still uptrend overall, aiming for 142.700 resistance level.
- Daily level 140.350 ,also a 61.8% retracement. Overall uptrend
- H4 100% retrace also overall uptrend
- H1 minor structure broken however there's enough momentum to hit...
- Daily Demand zone had a fake out and prok to the upside and now making a retest looking to Buy here
- Based off libs im looking to buy to -61.8% which is a perfect supply area.
- Be mindful of the Daily trendline marked in blue. lets see what price does.
- Strong demand zone formed above monthly resistance now support.
- Demand area has formed and has bounced 3 times on DAILY, I'm looking at buys from here off the H4 test of my MA and HL.
- Daily 38.2% retrace (hopefully) and forming W pattern retest of neckline.
- Looking to TP @-61.8% 1.95734.
GOOD LUCK!!! :)