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Where are you at?Hey guys! Let's have a look on GU of 4H timeframe. Now we are sitting on the main level of resistance (4H and Daily as well). Gonna wait for new impulse to the upside according to our trend. But on a Daily timeframe we can notice ascending nature (channel) and we know this is reversal pattern. So the new impulse to the upside should appear and then wait for a retrace candle on 4H timeframe to get a short position. There are a lot of space on Daily timeframe to get to our main level of support 1.3400. Let's go!
by Infinity_Limits_Trade
What is next?Quick update on GU. Let's have a look on Daily timeframe. We have a clear Doji candle close on Friday with bearish body, which tells me that this area is controlled by bears. Anyway we have 2 wicks rejections from that area which I previously mentioned to everybody here. So what will be next? According to the nature of the market - we always have 2 phases - impulse and correction (pullback). So after a huge impulse on Daily timeframe which starts from 1.2672 ( 850 pips move) the correction should start to form. I found 3 psychological levels - 1.3300, 1.3200 and 1.3100. So for now those 3 levels will be support area for me for the upcoming week. Long positions is not taking to the account for now. BUT if we will brake the resistance region - 1.3470-1.3515 I will check the chart one more time lol. Do not forget about false breakout as well. Cheers to everybody!
by Infinity_Limits_Trade
Our second support was reached!Hey Traders! Little update here. I am not taking into account our small loss from yesterday on USDCHF but now we can clearly see our NEXT support region was reached! According to our last post I mentioned that it will be my last point here, my support zone 0.8990 - 0.8980. And now we start to retrace. After a huge impulse to the downside - we will definitely wait for a pullback, and later on to go for a long. Need more time here to figure out some PA and as always keep you updated! So stay tuned!
by Infinity_Limits_Trade
Will be new impulse ?Hey traders! Hope you are fine! Let's have a look on GU for now. Yesterday I got 1% loss just because of high volatility and just because the indecision between bulls and bears as I mentioned here on this post And what do we have for now? A new impulse forming to the upside so I am not looking for long for now, but think after FALSE BREAKOUT of our main resistance 1.3470-1.3520 we gonna look for short. And then hope the price will reach out daily support zone at 1.3100. So let's check my forecast on GU.
by Infinity_Limits_Trade
GU indecision for now?Hello traders! Let's have a look on GU. As usual, I started my analysis on 4H timeframe. What did I noticed here? We got clear uptrend to the upside which means we are looking ONLY orders for BUY. Resistance on 1.3280 - 1.3300 was successfully broken and retested 3-4 times! I also see that we got 2 wicks rejections from our level which means that this level is in control by bulls! When we stepping down on the lower timeframe 1H we can see that trend reversal starts to form (potentially forming a picture with LH,LL) So for me it is more like the trend is changed and to be honest with you - I would like to see the price hit 1.3100 level! Let's see how this will play out!
Short
by Infinity_Limits_Trade
Draw perfect channelsDraw perfect channels using a quick hack. 1. Draw at least one level connecting two highs or lows that are of importance 2. Press and hold control and click and drag with your mouse 3. Now you're an expert channel drawer :) Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
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by Cmasterza
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