Short
GALUSDT: Short?
Updated
The coin sits between two trend lines. The downside scenario seems more likely, as the coin has not stuck above the historical level at 1.30.
The lower trigger will be a singal to the short, with the first resistance marked in orange. When the price approaches it, we can move SL to a less unprofitable position or to breakeven.
Possible profits are displayed below. I do not exclude further downward movement, but we will talk about it after reaching the first two targets.
What to say about the top trigger?
It can be a signal to short if price stays under the trendline with a nearby SL above the trend.
It can be a signal to long if the price stays above the trend line. But here, I emphasize, if I enter, it will be after confirmation of price fixation above the trend.
The lower trigger will be a singal to the short, with the first resistance marked in orange. When the price approaches it, we can move SL to a less unprofitable position or to breakeven.
Possible profits are displayed below. I do not exclude further downward movement, but we will talk about it after reaching the first two targets.
What to say about the top trigger?
It can be a signal to short if price stays under the trendline with a nearby SL above the trend.
It can be a signal to long if the price stays above the trend line. But here, I emphasize, if I enter, it will be after confirmation of price fixation above the trend.
Order cancelled
The situation has changed: bitcoin has increased in value. That's why GAL went up in price. The trade trigger was not activated. I'm closing the idea.
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