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GALAPERP trade ideas

GALAUSD Double Bottom and RSI Bullish Divergence.Gala (GALAUSD) has been trading within a Channel Down since the November 26 2021 High. The 1D MA50 (blue trend-line) has started to turn sideways but is still untouched since April 06. The 0.050 Support is holding on a potential Double Bottom formation but the strongest bullish sign comes from the 1D RSI which has been on Higher Lows while the price action has been on Lower Lows indicating a Bullish Divergence. As a result, a break above the 1D MA50 may be closing in and would be a bullish break-out signal all the way to the top of the Channel. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:GALAUSDLong
by TradingShot
5
GALAUSD on the strongest rise ever but is it enough?Gala (GALAUSD) is having the strongest 3 day rise (more than +270%) since it first started trading. The bounce came very close to the 2.0 Fibonacci extension from the first Low of this correction in January 22 2022. However this is not enough technically to restore the long-term bullish trend and start a new Bull Cycle. In order to do so, Gala has to break the Lower Highs zone that started after the November 26 2021 All Time High. Then the price can start filling the Fibonacci retracement levels towards a new All Time High. Until that happens, it is possible to see a new rejection new the Lower Highs or the 1D MA50 (blue trend-line) and if the 2.0 Fib breaks, set a lower target on the 2.5 Fib extension (roughly 0.012). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:GALAUSD
by TradingShot
1
GALA.Usdt (Y22.P1.E1).When to shortHi All, Like most charts now, its difficult to find an entry. We have a 50/50 chance to go either way, just like BTC . If it breaks below, then its worth the trade and have a tight stop loss as it could be a fake out. Just depends how it does it. The structure is like a reversal but one can't be sure of anything when it comes to these formations. I did miss that move to the upside as I wasn't watching it when that hour was needed. All the best, S.SAri
FTX:GALAPERPShort
by ssari