I will be watching 2 pairs tonight, the GU and the EU. I really like the EU as it seems to be a bit more clean.
GU 4 Hour
The GU formed an H4 head and shoulders pattern. The price closed below the NL, sold off a bit, spiked back thru the NL, sold off a bit AGAIN and now appears to be heading back to the NL for another test.
GU Daily
The GU daily chart has closed below the bear flag trend line and spiked back up coming close to the TL. It appears the price is determined to test the TL before another leg down. We will look to sell the rallies as we are in a downtrend. Stops need to be wider due to the large swings and spikes. It seems the GU trades as the GJ use to trade.VOLATILE.
EU 4 Hour
The EU 4 hour chart broke below the consolidation and appears to be going for a test of the break out. It has also formed a very nice abc short pattern with powerful bearish Hidden Divergence. I will look to sell any rallies.
