GU Shorts from 1.28600 back down
This week, GU is expected to align with its bearish trend. Following the recent downside structure break, I anticipate a retracement back up before continuing lower. Once price reaches the 22-hour supply zone, I will look for distribution on the lower timeframe to confirm the continuation of the bearish trend.
If price continues to drop and hits the 9-hour demand zone, I will monitor for accumulation signals to potentially buy back up in the short term, targeting the nearest supply zone. Given the significant liquidity on both sides, I will proceed with caution.
Confluences for GU Sells:
Structure Break: Price has broken structure to the downside, establishing new supply zones.
DXY Correlation: The bullish outlook on the DXY supports the bearish GU bias.
Liquidity: There is substantial liquidity to the downside that remains untouched.
Trend Consistency: Both higher and lower timeframes show a bearish trend.
P.S. I am focusing on sell opportunities this week, as the current trend remains bearish. With minimal news impacting the market, trading conditions appear favorable.
If price continues to drop and hits the 9-hour demand zone, I will monitor for accumulation signals to potentially buy back up in the short term, targeting the nearest supply zone. Given the significant liquidity on both sides, I will proceed with caution.
Confluences for GU Sells:
Structure Break: Price has broken structure to the downside, establishing new supply zones.
DXY Correlation: The bullish outlook on the DXY supports the bearish GU bias.
Liquidity: There is substantial liquidity to the downside that remains untouched.
Trend Consistency: Both higher and lower timeframes show a bearish trend.
P.S. I am focusing on sell opportunities this week, as the current trend remains bearish. With minimal news impacting the market, trading conditions appear favorable.
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