Monday, August 13, 2012

GU 13 Aug

GU closed Fri with an engulfing positive close, D RSI crossed up and above 50 level. 4hr stopped at its upper range, RSI crossed up and above 50. 1hr lower high lower low broken.

Suggests up and much clearer than EUR. The support and resistance levels have been key lately and this will probably remain.

Recently Ralph Shell commented about price action favouring scalpers over swing traders, this probably still holds true.

 Solid 1hr candles that engulf should have enough follow through for scalping.




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