Weekend Analysis - Daily - GU
On Thursday and Friday, price has rejected the 79 level and formed a Strong Shooting Star followed by a Bearish Engulfing indicating a shift in Momentum. On Friday, price has temporary find support on Institutional level 1.25.
On Friday, Price has tried to push higher but was rejected on the Institutional Level 1.265.
On the SMA 50 and Institutional Level 1.245 region, I have a Daily EMA Cross FB Long Setup which could be a good place for price to form a new HL formation. So it best for me to wait for the price to form a clear market structure before deciding to take any setup.
On Friday, Price has tried to push higher but was rejected on the Institutional Level 1.265.
On the SMA 50 and Institutional Level 1.245 region, I have a Daily EMA Cross FB Long Setup which could be a good place for price to form a new HL formation. So it best for me to wait for the price to form a clear market structure before deciding to take any setup.
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