Evening Traders,
Today’s analysis – SHIBUSDT- trading in a clear descending channel where a breakout continuation is probable,
Points to consider,
- Price Action Impulsive
- .618 Fibonacci Support
VWAP Confluence
- Swing High Objective
- Low Volume
SHIBUSDT’s immediate price action is corrective and is trading at a key trade location that has technical confluence with the .618 Fibonacci and the VWAO S/R, allowing for a bullish bias.
The Swing High is the immediate objective, exceeding this level leads to a trend continuation.
The current volume profile is below average, an influx is highly imminent when an expansion occurs.
Overall, in my opinion, SHIBUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“You’re going to learn a million things, then you need to forget them all and focus on one.” – SunriseTrader
Today’s analysis – SHIBUSDT- trading in a clear descending channel where a breakout continuation is probable,
Points to consider,
- Price Action Impulsive
- .618 Fibonacci Support
VWAP Confluence
- Swing High Objective
- Low Volume
SHIBUSDT’s immediate price action is corrective and is trading at a key trade location that has technical confluence with the .618 Fibonacci and the VWAO S/R, allowing for a bullish bias.
The Swing High is the immediate objective, exceeding this level leads to a trend continuation.
The current volume profile is below average, an influx is highly imminent when an expansion occurs.
Overall, in my opinion, SHIBUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“You’re going to learn a million things, then you need to forget them all and focus on one.” – SunriseTrader
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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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.