Happy New Year! I am so excited to be back and sharing trade ideas with everyone! Cheers to a peaceful and profitable year!
I think GU will make a quick bearish move this week. Here is what I am looking at:
- The most recent candle broke structure on the downside. - The most recent candle closed below the 50 EMA. - The momentum indicator is facing DOWN and BELOW 0. - The STOCH is facing down and the slow (orange) line is above the fast (blue) line. - No high impact news TODA. BUT STILL CHECK THE NEWS AS IT IS NFP WEEK.
For me, all signs are pointing to a sell. I will set a sell limit at a previous high to give the market a chance to retrace, which will give you a better entry. My stop loss will also be at a previous high and my TPs will be at previous lows.
Peace and Profits, Cha
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TP 1 was hit for 40 pips. The market did not reach TP 2