Beautiful setup for GU, this pair has been on a bullish run for the longest time.
I now see a bearish turn around for this pair, price has rejected my key weekly resistance which is already enough confluence for me to short because of how strong and accurate i know my levels are, price is also forming a lower high signalling a downtrend, also a lovely Head & Shoulders pattern forming. If price breaks the neckline and retests we will see a HUGE sell off, lets see how this one plays out.
I now see a bearish turn around for this pair, price has rejected my key weekly resistance which is already enough confluence for me to short because of how strong and accurate i know my levels are, price is also forming a lower high signalling a downtrend, also a lovely Head & Shoulders pattern forming. If price breaks the neckline and retests we will see a HUGE sell off, lets see how this one plays out.
Trade closed: target reached:
Head & Shoulders played out but we got stop hunted before smashing take profit!