This is an update as to what im looking at on GU and why im looking at this. Pay close attention to the drawing, theres some nice lessons in this one.
Im looking for swipes of the buy side and sell side liquidity which you can be seen in the green, at the moment financial institutions are stacking orders (building liquidity) which is creating this correction.
Once liquidity has been taken the move will continue. Preferrably im looking for a sell to continue with the momentum down however i will take a buy down the bottom also as long as it fits the description.
As you can see in the drawing im looking at this as a higher time frame continuation down.
Generally flags have two highs and two lows, if you cant see this its a good idea to look over different time frames in order to find it to gain clarity of what is happening which is what i do
Im looking for swipes of the buy side and sell side liquidity which you can be seen in the green, at the moment financial institutions are stacking orders (building liquidity) which is creating this correction.
Once liquidity has been taken the move will continue. Preferrably im looking for a sell to continue with the momentum down however i will take a buy down the bottom also as long as it fits the description.
As you can see in the drawing im looking at this as a higher time frame continuation down.
Generally flags have two highs and two lows, if you cant see this its a good idea to look over different time frames in order to find it to gain clarity of what is happening which is what i do