$GXY possibly confirming a Cup & Handle pattern on the weekly.Looking in depth at $GXY we can see this week's candle is potentially confirming a bullish move upwards as it shows signs of a successful Cup & Handle pattern. Tomorrow will tell.
Other indicators to consider are the cross of the MACD. If the cross occurs on Friday then I'm 99% sure this will be a great long. However if not, it's up in the air whether next week will be red or green. Either way, I'm still bullish for the year.
Brad's Confidence Meter: ★★★★☆
Buy order: $3.80
Stop loss: $3.41 (-10.26%)
Take profit : $5.60 (+47.37%)
Risk to Reward Ratio: 4.62
Not financial advice. Be safe and good luck!
GXY
GXY.ASX_Range Breakout Trade_LongENTRY: 4.04
SL: 3.65
TP1: 4.49
TP2: 5.34
- ADX>20
- RSI>50, RSI>70
- Daily RS +ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- Breakout with decent volume on 14 Apr 2021
- Breakout with ok volume today. Prefer to be higher.
METALS - GXYModel Forecast for Galaxy Resources Ltd:
- Model has produced Line of Least Resistance Elliot Wave for GXY.
- Cup and Handle breakout.
- Galaxy Resources is a leading producer and developer of lithium.
- We are bullish on commodities, especially metals.
GLHF,
DPT
Disclaimer:
We absolutely do not provide financial advice in any shape or form. We do not recommend investing based on our opinions and strongly cautions that securities trading and investment involves high risk and that you can lose a lot of money. Loss of principal is possible. We do not recommend risking money you cannot afford to lose. We do not guarantee future performance nor accuracy in historical analyses. We are not registered investment advisors. Our ideas, opinions and statements are not a substitute for professional investment advice. We provide ideas containing impersonal market observations and our opinions. Our speculations may be used in preparation to form your own ideas.
GXY - Buying OpportunityGXY seems to have taken off north, after breaking out of the triangle with very High Volume, so any retracement lower shall be a fantastic buying opportunity as it has been in a clear uptrend forming higher highs and higher lows. All we need is a little retracement towards the Support level and trendline Support level of $2.45 where it may come to backtest and shall wait for some bullish price action confirmation before we get into the trade. This will surely be an amazing buying opportunity for a strong move to the upside.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
GXY has broken through the upper channel on high volume.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!
ASX: Galaxy ResourcesFactors
1. Price has broken out of the recent ST downtrend (22/05/19 - 02/01/20)
2. There is a bullish candlestick printed with decent volume where price broke the recent downtrend (02/01/20)
3. Price made a higher low of 84c (06/12/19)
4. There is a gap at $1.29 which I would be looking to target.
Possible Reasons For Failure
1. Momentum may fade and continue downwards.
2. 13/48 EMA doesn't crossover, however it is slowly converging
GXY Trend ReversalWe broke out of long descending wedge on daily chart with consecutive green candles with S/R flip. We are still not out of the woods just yet but it's looking promising. Some more confirmation is needed for full confidence in trend reversal.
We really want to be above the Ichimoku cloud. Looks overbought on the RSI so after retesting the new support, we should be back on the way up. I suspect a lot of shorts will need to cover so we'll see some rise in volume.
GBPNZD - D SellDears,
please, take care of your position as you can see we can enter when the price become bearish.
Good luck
GBPUSD - 4H Buy + SellDear Traders,
Please, take care and keep looking for completed the Harmonic from point C, and when the price gives us a price action on this area we can buy it and our target it will be point D, and SL it will be below point A.
take care and good luck
GBPUSD 4H - Buy when?Dear Traders,
please, find our instructions and information on the chart.
Good luck
GBPUSD 1H - Sell when?Dear Traders,
Please, find our comment on the chart for your information.
thanks and good luck
GBPUSD 1H - BuyDears,
Please, be informed we will have this trading for the long term, but first, we have to reach to the first Target.
Good luck,
Important
The analysis and ideas published here, not an investment recommendation or any call to buy or sell, is merely an analysis and a vision based on the study of the history of price movement and behavior which may not necessarily be the reason for the success of the analysis and the model and its repetition and thus the probability of success is quite equal to the probability of failure .
So, please make your decision based on your pure vision.
Publishing is for the purpose of exchanging, correcting and comparing ideas.
in case the market moves with the direction of the analysis and achieve the first objective, there are options for you:
First: close the deal and receive the profits.
Second: Close the half of the contracts and put the stop loss on entry.
Third, the stop loss is moved to the point of entry and waiting for the remaining targets to be achieved.
To protect capital and succeed in managing transactions and thus successful trading should not exceed the maximum potential loss in each transaction for the same currency or commodity and in the same direction (2%) of the value of the portfolio.
Good luck and good profit.
If you have any opinions or thoughts about the analysis we will be happy when you share it with us.
Galaxy Resources GXY 10% gainGalaxy Resources GXY is top stock in ASX 300 today, up 8%. The last buy signal generated by Bottom Finder 2.2 script, represented by the tall red spike was triggered 10am today, spot on, bottom detected at 1 hour time frame. Potential profit of 10% from GXY if stocks was bought at time of signal. The tall red spikes indicate Strong buy signals while the Short puschia spikes are the weak buy signals.
The sell signals indicated by the green spikes in the chart, were generated by script Top Tickler. This predicts the peaks on the price, the estimates for best time to sell the stock.
PM me for subscription to Bottom Finder 2.2 and Top Tickler scripts. These scripts apply to stocks, forex, and most popular of all - crypto alt coins and Bitcoin.
Galaxy ResourcesThe MACD and the RSI are both indicating oversold conditions. The 88.6% Fib retracement of the down move from 3.54 to 2.21 and the inverse head and shoulder seem to be aligned within a very tight range. Looks like a 5 wave Hamonic Impulse Wave has started. The wave 1 and 2 are in place. Now need a trigger to start climbing towards the $3.40 target a potental of 34% gain based on current price of US$3.54 per share.
$GXY End current secondary trend (blue) in Primary trend (Green)Weekly view and drew the bottom support trend line with 3 connecting points.
>>> cloned the line and placed it on top of the last confirmed high.
= we had a fakeout 2 weeks ago on the weekly and last week touched the same point.
It all just lined itself up.
The indicators also appear to be reversing on weekly and more confirming on daily view.
Pink line is 50day EMA which appears to be a dynamic support.
Structural support at 52.5c
$GXY getting hammeredDoji rejected and price broke the 10 day EMA that was holding the price up. Price also broke through secondary trend in orange. technicals looking negative and pointing to a continuation to the downside following the large red candle. next support at 52.5c
