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GALAUSD

BE CAREFUL IF YOU ARE HOLDING GALA.Hey guys, here's a quick update on GALA/USD. Please note that I am not sharing any trade setup on GALA. This update is based on T.A and chart patterns. Timeframe: 6 hours. Update: GALA is under a head & shoulder pattern which is technically a bearish pattern. It has already broken down below the support level and is currently in the retest zone. There is two main resistance holding GALA to break through- 1) 21 MA Resistance presently at $0.04941. 2) $0.05245 Resistance trendline. With the recent rally in BTC, there weren't a lot of changes in GALA's price. Invalidation Point: The only invalidation level for GALA is $0.05245 resistance (previously support). If GALA break through this then the trend will get reverse and GALA will rally high. Conclusion: If you are holding long on GAL then keep your SL tight and if you are short on GALA then keep an eye on the mentioned resistance level. Trade safely, guys. If this idea makes sense then do like, comment, and follow. That's how we support each other. Thank you.
Short
by Dexter_The_Trader
GALA/USDT : Right above the last local support BINANCE:GALAUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $GALA has formed a local bottom at $0.05 and the local low is at $0.049. The current structure has some similarities to our recent $ADA's chart on 12H TF which has given us more than %50 profit. Now if we compare the movements, We can see that If $GAL breaks below $0.049 with a hold, Then you can locate your Short towards $0.03. 📚 Most of our current calls have higher than 2.5R and it's good to trade, But all you need to know is, That as we're trailing stop-losses to entry after 0.5R profit, Then you need to focus on your accuracy; You need at least 52% accuracy and the golden accuracy for our strategy is to hold it above %60! Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Short
by Helical_Trades
13
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
GALA - Final Drop! 👀In our last post, we were anticipating the final drop to appear and now we've got it. The time to buy is almost here! For confirmation of bullish breakout, we can wait for a break of the red trendline. For an even cleaner entry, you can wait for you bullish reversal confirmation price action to appear such as lower timeframe trendline breaks, BOS etc. Trade Idea: - Wait for bullish price action to appear on lower timeframe - confirmation on break of the red trendline - stops below the lows once bullish price action appears - Targets: 0.4, 0.8, HODL the rest Goodluck and as always, trade safe!
by WicktatorFX
4
gala/usdTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice. Risk Reward: 45.14 Potential upside: 1906% Potential downside: -42.24% The bottom looks like it's in or really close. We haven't touched wave 1 top yet so technically we still have a -42% downside before we enter wave 1 territory. Gala has been going up since it started in 9/2020 and peaked at 11/2021. An uptrend for 1 year and 2 months, since then it has been correcting and looking for a bottom. From 11/2021 - 5/2022 is about 6 months and that is a healthy correction considering how long it has been going up for. If we get something similar for the next impulse cycle then it can play out to something like this chart. An uptrend is usually 2-3x longer than a downtrend so we should be seeing a reversal soon.
by AyoKu