GU has literally been perfect as far as impulsing, retesting previous resistance, and then continuing. Now GU impulsed retested previous resistance but it not able to continue past that level of resistance. It has formed a double top and the neckline is at a 50% reversal. Double tops and other market patterns, like head and shoulders, like to go back to its origin so that's where I placed my TP. Not only was it, its origin but was conveniently a previous level of support.
I highly suggest trailing stop loss of course with any trade but especially now since news is constantly coming out because of COVID-19.
I highly suggest trailing stop loss of course with any trade but especially now since news is constantly coming out because of COVID-19.
Trade closed: target reached
YAYYY TP WAS HIT. Late on the update but I showed my TP above!
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.
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.