Evening Traders,
Today’s Analysis – XLMUSDT- trading above weekly S/R, diverting to pitchfork median where a move it probable.
Points to consider,
- Price Action Acceptance
- Weekly S/R Support (Pitchfork, EMA Confluence)
- Range mid target
- Oscillators neutral
- Declining Volume
XLMUSDT’s immediate price action is getting acceptance back into weekly range; this allows us to have a bullish bias.
The Weekly S/R is immediate support that is in confluence with the pitchfork median and 50 EMA. Price is likely to respect this level with a bounce into range mid – target.
Both oscillators are evidently neutral, must remain in their bullish territory to maintain strength. Their current volume profile is declining; an influx is highly probable when testing key trade locations.
Overall, in my opinion, XLMUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
“If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” – Mark Douglas
Today’s Analysis – XLMUSDT- trading above weekly S/R, diverting to pitchfork median where a move it probable.
Points to consider,
- Price Action Acceptance
- Weekly S/R Support (Pitchfork, EMA Confluence)
- Range mid target
- Oscillators neutral
- Declining Volume
XLMUSDT’s immediate price action is getting acceptance back into weekly range; this allows us to have a bullish bias.
The Weekly S/R is immediate support that is in confluence with the pitchfork median and 50 EMA. Price is likely to respect this level with a bounce into range mid – target.
Both oscillators are evidently neutral, must remain in their bullish territory to maintain strength. Their current volume profile is declining; an influx is highly probable when testing key trade locations.
Overall, in my opinion, XLMUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
“If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” – Mark Douglas
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.