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.
GU is forming a Flag pattern. This is a bullish consolidation pattern before continuing the uptrend.
At 4H chart GU actually in retracement process. GU has the possibility to reach 1.6400 as support line.
Trade Idea:
Enter long with SL depend on trader's money management.
Can enter long when price break upper trend line?
ReplyDeleteGood flag pattern probably forming now on H4 GU.