GTYR on the daily timeframe shows the formation of a classic inverse head and shoulders pattern, which is a bullish reversal structure. The breakout above the neckline occurred with strength, confirming the reversal. The price also broke above a Bearish FVG and BPR (Break of Structure with Price Return) zone, turning previous resistance into a support area. It is now consolidating just above the Bullish FVG, which may act as a demand zone if a pullback occurs. The projected bullish target lies near the Bearish Order Block (OB) around 55.65, while the invalidation level is below 42.90, offering a favorable risk-reward ratio. Overall, the setup favors the bulls as long as the price stays above the bullish FVG zone.
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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.