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Correction needed
GU bounced from S1 daily pivot point, the price level has also stretched to the outside of BB, a retracement should be expected, possibly during the Asia session.
Currently it's RSI oversold on 1H, 2H and 4H, so it stands a high chance for a correction.
Price going below 1.34735 invalidates the analysis.
Entry: 1.34881 or lower, above 1.34735
SL: a few pips below 1.34735
TP: fib based 0.382 retracement.
Expected pips: 20 - 60pips
Expected timeline: max 1 day
Note: I'm now exchange ideas with the LCMS traders club. Welcome to join in together and discuss about ideas published here.
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Disclaimer:
Chart is static market is not. I learn from loss and mistakes like everyone. No financial advise is given here. Your money your own risk. :) And Good luck.
Currently it's RSI oversold on 1H, 2H and 4H, so it stands a high chance for a correction.
Price going below 1.34735 invalidates the analysis.
Entry: 1.34881 or lower, above 1.34735
SL: a few pips below 1.34735
TP: fib based 0.382 retracement.
Expected pips: 20 - 60pips
Expected timeline: max 1 day
Note: I'm now exchange ideas with the LCMS traders club. Welcome to join in together and discuss about ideas published here.
---
Disclaimer:
Chart is static market is not. I learn from loss and mistakes like everyone. No financial advise is given here. Your money your own risk. :) And Good luck.
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