Evening Traders,
Today’s analysis – QTUMUSDT- trading in a defined range, Range Low has a probability of being tested,
Points to consider,
- Price Action Trending
- Range Low Support
(200 DMA & .618 Fibonacci, Confluence)
- Range- Mid Resistance
- Declining Volume
- RSI Bullish Control
- Stoch Buy Cross
QTUMUSDT’s immediate price action is bullish above Range Low, back test and hold of the 200 DMA increases the probability of a higher low.
Range Low S/R is support that is in confluence with the 200 DMA and .618 Fibonacci, back testing these regions allow for a risk defined entry.
Volume is currently declining which is indicative of an influx, this usually occurs at key trade location such as the Range Low.
The RSI is trading in its Bullish Control Zone, holding these regions are indicative of strength in the market. Current Stochastics has a buy cross coming to fruitions, confirmation will signify a momentum shift.
The Range-Mid is current resistance, breaking this level with conviction will negate the trade idea.
Overall, in my opinion, QTUMUSDT 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,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
Today’s analysis – QTUMUSDT- trading in a defined range, Range Low has a probability of being tested,
Points to consider,
- Price Action Trending
- Range Low Support
(200 DMA & .618 Fibonacci, Confluence)
- Range- Mid Resistance
- Declining Volume
- RSI Bullish Control
- Stoch Buy Cross
QTUMUSDT’s immediate price action is bullish above Range Low, back test and hold of the 200 DMA increases the probability of a higher low.
Range Low S/R is support that is in confluence with the 200 DMA and .618 Fibonacci, back testing these regions allow for a risk defined entry.
Volume is currently declining which is indicative of an influx, this usually occurs at key trade location such as the Range Low.
The RSI is trading in its Bullish Control Zone, holding these regions are indicative of strength in the market. Current Stochastics has a buy cross coming to fruitions, confirmation will signify a momentum shift.
The Range-Mid is current resistance, breaking this level with conviction will negate the trade idea.
Overall, in my opinion, QTUMUSDT 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,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
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 ⚔️
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
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 ⚔️
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.