Evening Traders,
Today’s analysis – LTCUSDT – trading at a clear resistance where a trend reversal is probable,
Points to consider,
- Price action impulsive
- .618 Fibaoncci Resistance
- Daily S/R Resistance
- VAH Resistance
LTCUSDT’s immediate price action is trading at an area of technical resistance confluence, this allows for a bearish bias.
The area is in confluence with the .618 Fibonacci, VAH, Daily S/R and the Internal Weekly S/R, this deems the area for potential trend reversal.
The immediate objective is the lower Daily S/R Support, a bounce here is likely which will then need a further analysis.
Overall, in my opinion, LTCUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee
Today’s analysis – LTCUSDT – trading at a clear resistance where a trend reversal is probable,
Points to consider,
- Price action impulsive
- .618 Fibaoncci Resistance
- Daily S/R Resistance
- VAH Resistance
LTCUSDT’s immediate price action is trading at an area of technical resistance confluence, this allows for a bearish bias.
The area is in confluence with the .618 Fibonacci, VAH, Daily S/R and the Internal Weekly S/R, this deems the area for potential trend reversal.
The immediate objective is the lower Daily S/R Support, a bounce here is likely which will then need a further analysis.
Overall, in my opinion, LTCUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.