In yesterday's analysis, I've mentioned that trendline break should never be an entry trigger, it is only an indication of temporary weakness, for a healthy trend like this, buyers could step in to defend any of those minor support zones. I expected GU to bounce off the 50ema and trap those 'trendline break' traders with continuation towards the upside, which was exactly what the market performed.
In today's trading session, I will be aware of potential pullback due to the over-stretched condition & RSI divergence. Ideally, I want to see deeper pullback for further buying opportunities, in the long-term I am expecting GU to head towards 1.4360 resistance zone .
Recently I've been receiving a lot of DMs regarding 'when to buy OR sell'. It is important to know that TV is a healthy and educational community, not a platform for you to look for signals or a definite answer. The only way you can become a consistently profitable trader is to improve your knowledge, no short-cut. Authors here are contributing for the sole purpose of improving the community and help new traders with clearer perspectives in the markets, not spoon feeding you. Have an open mindset, keep striving, keep learning.
"I feared boredom and mediocrity much more than I feared failure." - Ray Dalio
Trade safe.
Do follow my profile for daily fx forecast & educational content.
In today's trading session, I will be aware of potential pullback due to the over-stretched condition & RSI divergence. Ideally, I want to see deeper pullback for further buying opportunities, in the long-term I am expecting GU to head towards 1.4360 resistance zone .
Recently I've been receiving a lot of DMs regarding 'when to buy OR sell'. It is important to know that TV is a healthy and educational community, not a platform for you to look for signals or a definite answer. The only way you can become a consistently profitable trader is to improve your knowledge, no short-cut. Authors here are contributing for the sole purpose of improving the community and help new traders with clearer perspectives in the markets, not spoon feeding you. Have an open mindset, keep striving, keep learning.
"I feared boredom and mediocrity much more than I feared failure." - Ray Dalio
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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