GXY 0.00% $5.28 galaxy resources limited

Chart, page-13657

  1. 3,942 Posts.
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    As you old saying goes, you don't go broke taking profits.
    Just to provide some further context regarding the short term scheme.

    GXY daily.PNG

    Daily suggests there's probably a lot more in it before it reaches oversold.
    Referring namely to the run in May to June can see it was all green days, but overall trending up until turned in overbought region - that's where i'd personally take profit. (not always right but win more than you lose).

    GXY hourly.PNG
    Regarding you're short term trade - it probably will come back either at the close today or more likely through-out the day tomorrow at T+2 close their positions.

    noting back to the period May-June previously described. Can see how the hourly is all over the place. the tops and bottoms becomes harder to pick.

    IMO, best method is buy when hourly and daily are oversold. Sell when daily and hourly is overbought.

    Longs want to see a short term breather on the hourly, and a quick turn, should keep momentum on daily strong enough to break the downward wedge.

    Either way, people are going to find out shortly if the wedge breaks upwards or downwards.

    SF2TH
 
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