1. Price is under the 50-day MA
That blue line at ~137 is above price. Trend = down. In a downtrend you short pops, not buy dips.
2. Major resistance zone above (132.5–138)
Price already rejected this area multiple times. Your chart shows a textbook “lower high” forming right under resistance.
3. Structure is bearish
You have lower highs + lower lows since October. The current candles show weak buyers, no momentum.
4. Risk/reward favors downside
Upside is capped by heavy resistance. Downside is open toward 127–124.
5. No bullish reversal signal
No strong green candle, no break of structure, no reclaim of the 50MA. Nothing to invalidate the downtrend.
Conclusion:
GL is a sell because it's in a clear downtrend, rejecting a strong resistance zone, and failing to show any bullish shift. Ideal trade is short into resistance with small stop and bigger downside targets.
That blue line at ~137 is above price. Trend = down. In a downtrend you short pops, not buy dips.
2. Major resistance zone above (132.5–138)
Price already rejected this area multiple times. Your chart shows a textbook “lower high” forming right under resistance.
3. Structure is bearish
You have lower highs + lower lows since October. The current candles show weak buyers, no momentum.
4. Risk/reward favors downside
Upside is capped by heavy resistance. Downside is open toward 127–124.
5. No bullish reversal signal
No strong green candle, no break of structure, no reclaim of the 50MA. Nothing to invalidate the downtrend.
Conclusion:
GL is a sell because it's in a clear downtrend, rejecting a strong resistance zone, and failing to show any bullish shift. Ideal trade is short into resistance with small stop and bigger downside targets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.