Evening Traders,
Today’s analysis – GALABTC- trading is a clear descending channel structure where a break would be considered bullish,
Points to consider,
- Price Action Corrective
- Descending Channel Resistance
- Bullish OB Support
- Daily S/R Objective
- Single Print Fill
GALABTC’s immediate price action is corrective in a descending structure, s change in the trend directional will allow for a long entry.
The bullish OB Support in in confluence with the .618 FIB and the Single Print fill, and area where a bounce is probable.
The current objective is the Daily S/R, exceeding the level increases the probability of a trend continuation.
Overall, in my opinion, GALABTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Hope is bogus emotion that only costs you money.” – Jim Cramer
Today’s analysis – GALABTC- trading is a clear descending channel structure where a break would be considered bullish,
Points to consider,
- Price Action Corrective
- Descending Channel Resistance
- Bullish OB Support
- Daily S/R Objective
- Single Print Fill
GALABTC’s immediate price action is corrective in a descending structure, s change in the trend directional will allow for a long entry.
The bullish OB Support in in confluence with the .618 FIB and the Single Print fill, and area where a bounce is probable.
The current objective is the Daily S/R, exceeding the level increases the probability of a trend continuation.
Overall, in my opinion, GALABTC is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Hope is bogus emotion that only costs you money.” – Jim Cramer
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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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.