PRICE HAS BEEN IN AN UPTREND, FOR SOME TIME NOW. PRICE HAS REACHED A KEY LEVEL (1.26500) IT LOOKS AS IF IT MAYBE FORMING A DOUBLE TOP. ON THE 1H TF PRICE CREATED AN BULLISH ENGULFING, HANGING MAN THEN A BEARISH ENGULFING CANDLE, ITS ALMOST AS AN EVENING STAR BUT NOT QUIETE BUT IN THIS TYPE OF SCENARIO IT MIGHT BE SIMILAR. IF PRICE DOES CREATE A DOUBLE TOP AND BREAKS THROUGH THE TREND LINE AND BREAKS STRUCTURE THEN THIS COULD BE THE START OF A NEW BEARISH TREND FOR GU. IF IT DOESN'T BREAK THEN WE KNOW BUT IT DOES LOOKS LIKE IT COULD BREAK.
ON 5M TF PRICE CREATED A HEAD AND SHOULDERS FORMING THAT 2ND TOP OF THE DOUBLE TOP. BASED ON STRUCTURE IF PRICE DOES BREAK THAT AREA THEN ITS POSSIBLE THIS ISN'T A BEARISH MOVE OVERALL BUT IF IT DOES BREAK IT AND CREATES ANOTHER BEARISH CANDLE PATTERN THEN THERES A CHANCE. BUT IT LOOKS AS THOUGH PRICE CREATED THAT H&S AND CREATED A NEW LL AND LH. ITS POSSIBLE PRICE CAN BECOME BEARISH OVERALL. BUT STRUCTURE IS KING.
ON 5M TF PRICE CREATED A HEAD AND SHOULDERS FORMING THAT 2ND TOP OF THE DOUBLE TOP. BASED ON STRUCTURE IF PRICE DOES BREAK THAT AREA THEN ITS POSSIBLE THIS ISN'T A BEARISH MOVE OVERALL BUT IF IT DOES BREAK IT AND CREATES ANOTHER BEARISH CANDLE PATTERN THEN THERES A CHANCE. BUT IT LOOKS AS THOUGH PRICE CREATED THAT H&S AND CREATED A NEW LL AND LH. ITS POSSIBLE PRICE CAN BECOME BEARISH OVERALL. BUT STRUCTURE IS KING.
