Wednesday, July 18, 2012

GU trade

The view yesterday was generally on a GU move up. Well things change, roll with it!

GU struggled at our identified resistance level 5670, see the D chart posted yesterday. Giving no decent 1hr buy candles. London session had a strong shooting star after divergence on 1hr chart. Going into US session a weak candle (upper wick) and a lower high shooting star suggested that a fall may come.


The good angle on 5 min ma's with good 1hr set up is within our rules to sell GU counter trend.

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