Price has retraced to a previous level of Supply which has been retested and shows that there is strong demand at this level.
We have identified an area of liquidity and are expecting a spring to form at this level after which we will execute buys
GU has been very bullish on the Hourly timeframe.
We look like we could need a retracement.
Price has approached an area of resistance as seen by the behaviour of the candlesticks.
We recently saw a bullish candle attempt to close above this resistance and fail.
Price is currently forming a bearish candle. This along with the previous candle could be seen as a...
Following price's Bullish move on Thursday, we can see that price is currently consolidating to the upside. Originally we should be looking for buys after retracement, but, with this consolidation, there are only two scenarios
1. Wait for price to develop properly, or
2. Expect price to break the low of the range, taking out the the SLs residing there, find...
1hr timeframe structure is Up
Waiting for retracement to a key area before continuation to the up side.
However, we have an untapped orderblock on the 1hr timeframe. We expect that when price gets to the orderblock it will start a move to the upside.
Lets see how it goes