GU did one of its overstreched moves on friday, which many times is a signal of a trend change, at least short to medium term. First, all bulls are scared off, SLs hit and then the banks start buying. Same goes with selling after a big overstreched bullish move. Friday’s move looks like a typical bear trap to me, so its time to start building long positions. SL below 2000, which is a huge support area. First target area is above 2200, which should be easily achievable early in the week, second target would be around 2350 and the final target at 2500. Not sure if all targets will be hit next week, as its 400 pips, but it should be a good week to buy the dips.
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