If you are a beginner of price action trading, candles may be too messy for you, you can practise using a lines chart to help you determine the key point or find a double top or double bottom or draw a trend line. Never give up guys, the money will come for you when you desrve.
Price breakout the pullback channel after a few days, very happy to see this situation because bearish still take control of the market, guys who short still can hold the trade and for the others, find a good entry in the smaller timeframe, good luck guys.
People always do their analysis for only one direction because of human prejudice. When you don't have any directions about the market it is not a bad thing, it doesn't mean you are a bad trader, just try to simulate all situation and see how the market move(uptrend, downtrend and consolidation). When the market reaches any of situation of your simulate then you...
Most of the people will long GU because it is a trending market and people "wish" it can continue to go up until the daily resistance, I will only take the trade when the market structure is stable otherwise it is gambling.
After a few days of rest, GU seems that the upward trend will continue, but he can’t continue to rise crazy because there is no permanent trend. The only thing I can predict is GU will be an uptrend in these few days and a big pullback may come after this uptrend.
GU still in the plan, we can see that the bearish pressure still controls the market, GU is going downtrend but no immediately because the bullish side hasn't 'died' yet hahaha so be patient wait for the signal like stop hunt or candlestick patterns before you go in the market. Hope you have a nice day and feel free to comment. :)
We can see the lower low and lower high there, we can consider the market will create a new lower low after a few days or week. But be careful don't rush into the trade without risk management although you see the direction because you are not controlling the market. Hope you guys have a nice day and enjoy my analysis. :)