GU is seeming to make a buy setup but it is in what appears to be a corrective flag. Trading it here can be difficult considering corrective structure. I guess my main point is, if you see it do that pattern to that level, a sell entry is more than in order. Once it completes a pattern as such, you look for 50-61.8 % retrace if it will be a leading diagonal in order to continue up, but if it completes a combo pattern just like that, then it will probably be going for the low, at least. But I guess my main point is regardless of what it does if you understand the concept, you can successfully trade it no matter what. I am uploading a video on DXY on my you tube, suggest you take a peak if you are trading it.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.