Today’s analysis – GALAUSD- trading at a key resistance zone where a rejection is probable,
Points to consider, - Price action impulsive - POC S/R Resistance - Climatic Node - Daily S/R Support
GALAUSD’s immediate price action is testing a resistance zone that is in confluence with the POC and a Weekly S/R, allowing for a bearish bias.
The current volume node is climatic; this is evident of temporary top if bull volume does not persist.
The immediate objective is the lower order block support, price has technical merit to retest the region.
Price action is to be used upon discretion/ management when executing this trade, invalidation is multiple candle closes above the POC.
Hope this analysis helps,
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And remember,
“It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd’