This is my short term forecast for GU longs towards the Resisting TL.
Possibility to just sell off and break this counter trend line.
IF i get some formations to support my bullish bias I will be looking for longs in the blue highlighted box.
Let me see if I can fulfil my target and just ride the move I am expecting.
I will update this as price action starts to form.
Comment
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Analysis has now changed with the 4 hour break and close below the TL I was talking about. Bias is now short and I will be looking to get in on a pull back around the 1.21500 level.
I am at the same setup.. What is the chart confirmation you look for? Candlestick formations?
ArcusFX
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@pavankumarg117, Ideally I will be looking for alot of wick rejections of the level at the Supporting trend line. (The longer the wick the better for me.) So pin bars and Morning star formations are my favourite.
I am being patient though