Hello traders,
I made this analysis based on weekly market cycles. As you can see, monday was very bullish for GU. In theory, mondays usually give false signals. Actually, on tuesday, we have some form of consolidation which is healthy for this type of market. But we are not selling, not yet. Firts I expect some stop hunts and liquidity grabs above our latest highs. After that we can catch some bearish momentum and possibly the real weekly trend. Of course if can see the stop hunts, we could see some type of Double Top or Head & Shoulders pattern which are considered as reversal patterns.
These are not investment advices but just my personal opinions.
Good luck and don‘t hesitate to comment below your opinions !!
I made this analysis based on weekly market cycles. As you can see, monday was very bullish for GU. In theory, mondays usually give false signals. Actually, on tuesday, we have some form of consolidation which is healthy for this type of market. But we are not selling, not yet. Firts I expect some stop hunts and liquidity grabs above our latest highs. After that we can catch some bearish momentum and possibly the real weekly trend. Of course if can see the stop hunts, we could see some type of Double Top or Head & Shoulders pattern which are considered as reversal patterns.
These are not investment advices but just my personal opinions.
Good luck and don‘t hesitate to comment below your opinions !!