Technical analysis by J3D1M31ST4 about Symbol GALA: Buy recommendation (11/25/2024)

well you see if it keeps respecting this trend line from the 6 hr timeframe it can go up to the 1.618 which you see the target but that will take a few days maybe but it is a good time now to go long and then take again profit around that level we had before. Cause you see it did build some higher lows there and should go up even more and if you hold longer and move your stop loss accordingly you can ride maybe till this 1.618. If you see the trendline break get out of the trade and take your profits. Hope this helps.1.618 fib is at 0.04969 put your take profit slightly below it you should be fine, also check when at the last target if it gets higher if it pulls back again take your profit and reenter every time it gets back to that trendline which is still valid. Remember the basic rule the more a trendline gets touched the weaker it should get. So caution is the way here. Better wait for new entry signals check your rsi 3 and rsi 35 just as desccribed in the other posts. You can also use it in the opposite direction for shorts. On higher timeframes it is very realiable.if it breaks that resistance around 0.04129 you can expect the 1.618 to play out if not you need to wait or check for the pullback target levels of the fib scale. ;)sorry trade would be still in play, I am not that familiar with the tradingview buttons here :Dalso the sar on the 6 hr timeframe is in long position so you can stay long right now, here on the 1 hour we are in short position sar cause it is still in that pullback phase for the next maybe 1 to 2 or 3 hours, check back tomorrow, maybe it then changes to long and reaches the levels there again