Comprehensive Top-down analysis of GU. In terms of Daily Market Structure, it's arguable that price has now back into bullish, price come back to take out the daily IRL and mitigates the last daily S2B/weekly demand and continue up. Previously I do expect price to continue the bearish OF based on weekly inner bearish OF from the 4H LQ POI. However, from how price react to the 4H LQ POI, market doesn't show a strong intention to go down, at least not now. We can see price slightly break the previous 4H swing low but immediately retrace, no follow through found, we might see this as a sweep to SSL too. 4H is now in bearish OF but with a weak high.
In other perspective, we may see price is now moving within a 4H range, price is now moving back up to the premium of the range, let see if the supply hold and continue sideway movement or price continue higher. Wait for further PA development.
In other perspective, we may see price is now moving within a 4H range, price is now moving back up to the premium of the range, let see if the supply hold and continue sideway movement or price continue higher. Wait for further PA development.