Looking at the daily time frame GU is in a clear down trend creating LH and LL. Price is currently in a range, I will want to see a sweep out of the range to confirm the trend.
If price breaks the previous LL the trend is still bearish, if price breaks the LH we may see a reversal form.
I have drawn a imbalanced supply zone which price may react to before making the big move downwards.
Over the next few weeks I will monitor GU and wait for a break out of the range.
If price breaks the previous LL the trend is still bearish, if price breaks the LH we may see a reversal form.
I have drawn a imbalanced supply zone which price may react to before making the big move downwards.
Over the next few weeks I will monitor GU and wait for a break out of the range.