Mr. Hyde wrote:Even tho price has broken out and even retest the triangle, im still not long. I'm not a huge fan of putting trades on of GU during Asian. Add to that we are at a price level that has been showing strong resistance. I also wonder had NFP not been on Friday would we have seen such a strong run up. Maybe if price closes over and retest a line up then I will look for a long. Until then I would much rather sell. Also price had reached and bounced at a daily trendline on Thursday, so if we could get a break and close lower, price would be showing me a change of behavior and I would def be more bearish.
See even tho I was wrong about price going down, I still had a plan for going long that had I been awake for could have followed to a tee. Whether you used the orange S/R ling or the black one marking the daily extreme, price closed over it and gave you a chance to look for a long.