GU has been respecting the neckline for this possible head and shoulders structure.
After making a new LL, and GU being unable to close above 78.6%, I believe it's safe to say that the bears aren't finished.
Target is just above -27% which has confluence with a minor indecision level and is higher than the previous shoulder, so chances of hitting are even higher.
After making a new LL, and GU being unable to close above 78.6%, I believe it's safe to say that the bears aren't finished.
Target is just above -27% which has confluence with a minor indecision level and is higher than the previous shoulder, so chances of hitting are even higher.
Trade closed: stop reached
Stop loss should have been above previous high.
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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.