GOING LONG NOW? WAIT FOR THE BREAKOUT OF THE RESISTANCE LEVEL
Timeframe: M30. I know that many traders would be very confused as to what to do whether to buy or sell. First, if you open up your chart and are not 95% sure of what could happen next in the market, then quit. Don't trade until you see the clear direction. Some of us will lose money trading the GU pair because of impatient.
ANALYSIS: Currently, the overall market condition is bearish, but the price has broken the first barrier to moving up which is the trendline resistance. The second barrier is the horizontal resistance level, the trouble area, around which the price Is struggling to break now. If the price could successfully break out of this level, then it's time to go long on the GU. And, as I'm looking at the price movement now, it seems the Bulls are gaining momentum to break to the upside. Check the M30 timeframe. You will see how the price is doing. The price is sitting on the Minor support level, the buildup, which is trying to hold the price from going down. Conclusion: the bulls are in control.
DECISION: ONCE YOU SEE THAT THE PRICE HAS CLOSED ABOVE THE RESISTANCE LEVEL, GO LONG, BUDDY. GOOD LUCK
ANALYSIS: Currently, the overall market condition is bearish, but the price has broken the first barrier to moving up which is the trendline resistance. The second barrier is the horizontal resistance level, the trouble area, around which the price Is struggling to break now. If the price could successfully break out of this level, then it's time to go long on the GU. And, as I'm looking at the price movement now, it seems the Bulls are gaining momentum to break to the upside. Check the M30 timeframe. You will see how the price is doing. The price is sitting on the Minor support level, the buildup, which is trying to hold the price from going down. Conclusion: the bulls are in control.
DECISION: ONCE YOU SEE THAT THE PRICE HAS CLOSED ABOVE THE RESISTANCE LEVEL, GO LONG, BUDDY. GOOD LUCK