GU monday blues scalp
Updated
Hello traders! I have made an analysis on GU and will be shorting to end of wave C and then long to resistance level.
Why am I expecting this move?
-GU has completed its ABC corrective wave on GU on H4 meaning that we are now on reversal phase to bullish trend.
-Price had completed a classic break and pull back and I'm expecting price to create a "M" pattern.
-I spot a corrective wave to the upside on M5 hence I'm expecting price to go down further before continuation of trend
Let me know your thoughts. Trade safe!
Why am I expecting this move?
-GU has completed its ABC corrective wave on GU on H4 meaning that we are now on reversal phase to bullish trend.
-Price had completed a classic break and pull back and I'm expecting price to create a "M" pattern.
-I spot a corrective wave to the upside on M5 hence I'm expecting price to go down further before continuation of trend
Let me know your thoughts. Trade safe!
Trade closed: target reached
Hit TP.
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.