This week, GU is expected to align with its bearish trend. Following the recent downside structure break, I anticipate a retracement back up before continuing lower. Once price reaches the 22-hour supply zone, I will look for distribution on the lower timeframe to confirm the continuation of the bearish trend.
If price continues to drop and hits the 9-hour demand zone, I will monitor for accumulation signals to potentially buy back up in the short term, targeting the nearest supply zone. Given the significant liquidity on both sides, I will proceed with caution.
Confluences for GU Sells:
Structure Break: Price has broken structure to the downside, establishing new supply zones.
DXY Correlation: The bullish outlook on the DXY supports the bearish GU bias.
Liquidity: There is substantial liquidity to the downside that remains untouched.
Trend Consistency: Both higher and lower timeframes show a bearish trend.
P.S. I am focusing on sell opportunities this week, as the current trend remains bearish. With minimal news impacting the market, trading conditions appear favorable.
If price continues to drop and hits the 9-hour demand zone, I will monitor for accumulation signals to potentially buy back up in the short term, targeting the nearest supply zone. Given the significant liquidity on both sides, I will proceed with caution.
Confluences for GU Sells:
Structure Break: Price has broken structure to the downside, establishing new supply zones.
DXY Correlation: The bullish outlook on the DXY supports the bearish GU bias.
Liquidity: There is substantial liquidity to the downside that remains untouched.
Trend Consistency: Both higher and lower timeframes show a bearish trend.
P.S. I am focusing on sell opportunities this week, as the current trend remains bearish. With minimal news impacting the market, trading conditions appear favorable.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.