Evening Traders,
Today’s analysis – AAVEUSDT- trading above Local S/R where a back test is probable, establishing a likely inverse head and shoulders,
Points to consider,
- Price Action Impulsive
- Local S/R Resistance
- Neckline Support
- Oscillator Bullish Control Zone
- Volume Influx
AAVEUSDT’s immediate price action is bullish above Local S/R allowing us to have a bullish bias on the market.
The Local S/R is immediate support that is in confluence with the .618 Fibonacci, holding this area is critical to confirm an S/R Flip retest.
The Neckline Resistance is immediate target of the inverse head and shoulders pattern, price action breaking above this level is deemed bullish with extended targets.
RSI is currently trading in its respective bullish control zone, maintaining this level is critical for strength in the market.
There are valid volume influxes that need to be sustained for uptrend continuation, failure is a bear sign.
Overall, in my opinion, AAVEUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
Today’s analysis – AAVEUSDT- trading above Local S/R where a back test is probable, establishing a likely inverse head and shoulders,
Points to consider,
- Price Action Impulsive
- Local S/R Resistance
- Neckline Support
- Oscillator Bullish Control Zone
- Volume Influx
AAVEUSDT’s immediate price action is bullish above Local S/R allowing us to have a bullish bias on the market.
The Local S/R is immediate support that is in confluence with the .618 Fibonacci, holding this area is critical to confirm an S/R Flip retest.
The Neckline Resistance is immediate target of the inverse head and shoulders pattern, price action breaking above this level is deemed bullish with extended targets.
RSI is currently trading in its respective bullish control zone, maintaining this level is critical for strength in the market.
There are valid volume influxes that need to be sustained for uptrend continuation, failure is a bear sign.
Overall, in my opinion, AAVEUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
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Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Stay sharp, trade smart.
— Team The Alchemist ⚔️
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
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 ⚔️
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.