Hi guys, I am long on Gala based on the following TA
- Wave 1 high of 0.05064
- Wave 2 appears to be an expanded flat correction (3 down, 3 waves up exceeding the high of wave 1, followed by 5 weaves down).
- Wave 3 may be in play with wave 1 being put in and the retracement of wave 2 down to the 0.618 Fib Level, we are potentially looking for a bounce here in to Wave 3 of 3.
- Wave 3 price extension to 0.11402 range which coincides with the 1.618 fib area and also a weekly resistance level.
It is too early to confirm we are in Wave 3, for confirmation would wait for price to break the high of wave 1. This analysis will be invalidated price falls below 0.02993 or if we fail to break the high of wave 1.