GALA at the apex of the bigger Symmetrical triangle

9 במרץ 2022

Here's a quick look at GALA 12 hr chart. As we can see, the price has printed a bigger symmetrical triangle and we could see a break to either sides soon. Definitely one to keep an eye on.
The best entry would be, when the price breaks above the symmetrical triangle (Approx. 0.232$) with good amount of volume .
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The idea is: Buy when the price breaks above the symmetrical triangle (Approx. 0.232$) and take profits at the levels shown in the chart.

Targets:

1. 0.29$
2. 0.35$
3. 0.4$
4. 0.475$
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What are triangles when it comes to trading?

Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.

2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.

3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."

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