This morning Galaxy has broken through the upper limit of the recent channel, on strong volume.
If the 4hr candle closes strong, it will also be a bullish engulfing pattern.
I will be looking for a small retracement if this happens, where I will open a long position. TP around the $1.5 mark, SL $1.225.
Lets see how if plays out.
Welcome your comments, thanks!
If the 4hr candle closes strong, it will also be a bullish engulfing pattern.
I will be looking for a small retracement if this happens, where I will open a long position. TP around the $1.5 mark, SL $1.225.
Lets see how if plays out.
Welcome your comments, thanks!
Comment:
GXY has broken through the short term resistance. Now to wait for a pullback and test of the new support before entering long.
GXY has broken through the short term resistance. Now to wait for a pullback and test of the new support before entering long.
Trade active:
Pull back on Galaxy this morning, validating the previous analysis.
Good for a long position now, lets see how it goes.
Pull back on Galaxy this morning, validating the previous analysis.
Good for a long position now, lets see how it goes.
Comment:
Price action is strong on Galaxy, with a small pullback with low volume.
Now looking for the price to break the $1.410 mark, after which, it should then reach our profit level. A consolidation here will mean its time to get out, let's see what happens.
Price action is strong on Galaxy, with a small pullback with low volume.
Now looking for the price to break the $1.410 mark, after which, it should then reach our profit level. A consolidation here will mean its time to get out, let's see what happens.
Trade closed manually:
Closed out for a profit. Will look at GXY again after the US election.
Closed out for a profit. Will look at GXY again after the US election.
Added the longer term up trend channel.