GXY has broken through the upper channel on high volume.
Updated
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!
Note
Added the longer term up trend channel.
Note
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.
Note
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.
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