GU has been very bearish recently and is currently reacting from a clean demand zone with multiple confluences. While we may see a short-term push to the upside, I’ll be watching to see if price reaches the 3hr supply zone sitting at a premium level.
If price does reach that zone, I’ll be on the lookout for signs of Wyckoff distribution and a slowdown in momentum, which could signal the start of another bearish leg.
Confluences for GU Shorts:
Overall bearish trend remains intact — this is a pro-trend setup
Price may retrace to mitigate a 3hr supply zone
Liquidity to the downside still needs to be taken
Current demand zone may simply serve as a trigger for a retracement up to supply
P.S. If price fails to reach the supply zone and continues dropping, we’ll likely see a new break of structure and the formation of a fresh nearby supply zone, which we can then trade from.
Let’s stay sharp and have a profitable trading week ahead! 🔥📊💰
If price does reach that zone, I’ll be on the lookout for signs of Wyckoff distribution and a slowdown in momentum, which could signal the start of another bearish leg.
Confluences for GU Shorts:
Overall bearish trend remains intact — this is a pro-trend setup
Price may retrace to mitigate a 3hr supply zone
Liquidity to the downside still needs to be taken
Current demand zone may simply serve as a trigger for a retracement up to supply
P.S. If price fails to reach the supply zone and continues dropping, we’ll likely see a new break of structure and the formation of a fresh nearby supply zone, which we can then trade from.
Let’s stay sharp and have a profitable trading week ahead! 🔥📊💰
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.