GRS Testing Key Resistance

Just some of my thoughts on GRS.

A closer look on the 1 hour time frame. I believe it should consolidate a bit after this test of key resistance.

If you missed the 1 hour time frame, like me, then have no fear! You just need to watch for the 2nd potential breakout on the 4hr time frame.

ENTRY SIGNAL:
Look for a break of 8.1k resistance and the close of the 4 hour candle for equilibrium pattern break.

EXIT SIGNAL:
Look for a break of 6.8k support and close of the 4 hour candle for clear bear signal.

DISCLAIMER:
These are just my opinions so take this advice at your own risk. Good luck and happy trading everyone! :)

Comment:

Hope you guys are watching because GRS is shaping to break in this next hour. I bought half my position at 8.2k, incase it doesn't break. Saving the other half if it does break - then I'll buy the next red candle :) Good luck out there!

My current chart:

Comment:

Be patient! We have to see a break of the pattern. This means we have to see the candlestick CLOSE above the resistance. In this last candle, although it went very high, it didn't close above the resistance. This suggests profit-taking and we'll likely see some downside/consolidation.

Alternatively, if you have bags right now - there are two support levels that the price could bounce off if it goes bearish. Also, GRS is dropping some news in 30 days. So keep your eyes peeled!

Good luck and happy trading everyone!

Comment:

I don't usually use the 15 minute time frame because shorter time frames = short term predictions; however, this is towards the end of the 1hr/4hour so it COULD be a good indication of what's to come.

Broke previous resistance of 8.4k. Next, will likely test 9k.

I'm already in half of my position at 8.2k so I'm holding and chilling.