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.