#GALA
The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards breaking above it, with a retest of the upper boundary expected.
We have a downtrend on the RSI indicator, which has reached near the lower boundary, and an upward rebound is expected.
There is a key support zone in green at 0.00916. The price has bounced from this level multiple times and is expected to bounce again.
We have a trend towards consolidation above the 100-period moving average, as we are moving close to it, which supports the upward movement.
Entry price: 0.00933
First target: 0.00947
Second target: 0.00971
Third target: 0.01005
Don't forget a simple principle: money management.
Place your stop-loss below the support zone in green.
For any questions, please leave a comment.
Thank you.
The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards breaking above it, with a retest of the upper boundary expected.
We have a downtrend on the RSI indicator, which has reached near the lower boundary, and an upward rebound is expected.
There is a key support zone in green at 0.00916. The price has bounced from this level multiple times and is expected to bounce again.
We have a trend towards consolidation above the 100-period moving average, as we are moving close to it, which supports the upward movement.
Entry price: 0.00933
First target: 0.00947
Second target: 0.00971
Third target: 0.01005
Don't forget a simple principle: money management.
Place your stop-loss below the support zone in green.
For any questions, please leave a comment.
Thank you.
Trade closed: target reached
#GALA
First target: 0.00947 Reached
Second target: 0.00971 Reached
Third target: 0.01005 Reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.