This is why I entered this position... Hopefully it can be of help to your own analysis
Daily: Price formed a morning star cs with the middle of this ms being a hammer cs.The bullish of this morning star took out the prev lower high thus forming a new higher high.After this im looking to play the probability that a new Higher low is going to be formed. We can see that then price formed an inverted hammer cs which indicates bullish pressure wanting to come back into the market.
4 hour: Price came back into the 1.32 region and formed a hammer cs which closed above the prev low and we can see each low is closing higher than the previous one before it. This hammer cs indicates that bullish pressure wants to come back into the market and after this i was looking for an entry.
1 hour: Price formed tweezer bottom marabozu cs at 1.32 psych level and then bullish momentum came through taking out that prev intra lower high. Price then came back down and i was looking for signs of intra hh and hl formation and thus i got it on the 30 min timeframe and entered.
Price is up 25 pips from my entry.... The price action from the daily timeframe alone tells us that GU is itching to reverse...first looking at 1.335
Daily: Price formed a morning star cs with the middle of this ms being a hammer cs.The bullish of this morning star took out the prev lower high thus forming a new higher high.After this im looking to play the probability that a new Higher low is going to be formed. We can see that then price formed an inverted hammer cs which indicates bullish pressure wanting to come back into the market.
4 hour: Price came back into the 1.32 region and formed a hammer cs which closed above the prev low and we can see each low is closing higher than the previous one before it. This hammer cs indicates that bullish pressure wants to come back into the market and after this i was looking for an entry.
1 hour: Price formed tweezer bottom marabozu cs at 1.32 psych level and then bullish momentum came through taking out that prev intra lower high. Price then came back down and i was looking for signs of intra hh and hl formation and thus i got it on the 30 min timeframe and entered.
Price is up 25 pips from my entry.... The price action from the daily timeframe alone tells us that GU is itching to reverse...first looking at 1.335