Thursday, August 2, 2012

GU reverted to flow, avoid weak early US candles


GU - as discussed yesterday morning the higher high higher low cycle was broken on 31 July.

Yesterday that move down continued and 1hr is clearly now on lower high lower low. The weak early US candle (arrow up) would be avoided as discussed many times. D strong engulfing negative close, RSI below 50 level. 1.5500 is an area where we can get some reaction.

Focus on sells today.

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