GU BIAS: NEUTRAL, THOUGH LOOKING BEARISH BUT WAIT!
Hello there, perhaps you are wondering what could be the next move in the GU market. The fact is, currently, the GU is at the psych level as shown both in the daily and H4 timeframe without any signal showing whether to buy or sell. But, in the H4 timeframe, we have seen a semi-classic pin bar formed already, showing that the bearish momentum is preparing to take place. The selling signal is already shown in the H4 while the daily hasn't given any.
What do I do now?! Perhaps you asked yourself? The answer to this is a big WAITING! Wait for the daily timeframe to show you the right direction. But if you are bold enough to dare the market, then sell it from the H4 timeframe. But, Unh, that's not enough. The signal in the daily is weightier than that of the H4 timeframe and below.
Finally, my bias says: I see a sell in the GU market technically. But for now, no trade until I see a reliable signal to sell or buy.
Above all, let patience pay the bill for you. Stay out of FOMO. FOMO kills.
Currently, the Key psych level in the daily timeframe is 1.2200 resistance level. That's the major barrier point for now. If the price successfully breaks this level to the upside, then the next target level is 1.2435. But if it successfully breaks to the downside, then the next target level is 1.1805.
Happy trading.
What do I do now?! Perhaps you asked yourself? The answer to this is a big WAITING! Wait for the daily timeframe to show you the right direction. But if you are bold enough to dare the market, then sell it from the H4 timeframe. But, Unh, that's not enough. The signal in the daily is weightier than that of the H4 timeframe and below.
Finally, my bias says: I see a sell in the GU market technically. But for now, no trade until I see a reliable signal to sell or buy.
Above all, let patience pay the bill for you. Stay out of FOMO. FOMO kills.
Currently, the Key psych level in the daily timeframe is 1.2200 resistance level. That's the major barrier point for now. If the price successfully breaks this level to the upside, then the next target level is 1.2435. But if it successfully breaks to the downside, then the next target level is 1.1805.
Happy trading.