ok then...here i am,posting charts after quite a long time...i found it necessary to post charts and explain my thinking cos a few people got it wrong today...
one of the trades taken by others which surprised me a lot was when people went short on GU...that to me, was a stunner....right from yesterday i have been sayiong that GU is having strength....attached is the daily chart, 4H chart and 15M chart....
look at the daily for the past 2 days...price going down and coming back for 2 consecutive trades...almost a double bottom...almost 2 successive pin bars...very clear that the direction is up...
next ...look at the 4H charts for GU....last 12-15 bars....all trying to break 1.63 but immediately jumping back above...either on the same bar or the very next bar....that is more than enough confirmation for me...
next...look at the 15M for GU...right from yesterday...at around 12 noon on the charts....price went down, volume MA rose....then a ranging period when price went nowhere and volume went down a little....then price went down again but lessening volume....again, showing that downside is of no interest...as i said, it is more a clearing of orders...
