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
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
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 ⚔️
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.