Daily Chart:GU still bullish and currently in retracement. Believe GU to continue bullish once break the downtrend channel.
4H Chart: GU stay flat and in no trade zone (neutral). Trader should wait GU to close above Kumo before entering new long position.
Trade Idea:
Enter long trade once GU close above Kumo and break channel trend line.
Happy trading.
Ichimoku Kinko Hyo is a purpose-built trend trading charting system that has been successfully used in nearly every tradeable market. It is unique in many ways, but its primary strength is its use of multiple data points to give the trader a deeper, more comprehensive view into price action. This deeper view, and the fact that Ichimoku is a very visual system, enables the trader to quickly discern and filter "at a glance" the low-probability trading setups from those of higher probability.
Tuesday, 19 April 2011
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