Evening Traders,
Today’s analysis – EGLDUSDT – trading above Local S/R where a respect is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(200 MA & .618 Fibonacci Confluence)
- Swing High Objective
- Oscillators Extended
- Volume Climax
EGLDUSDT’s immediate price action is impulsive at current Local S/R, this level has technical confluence with the .618 Fibonacci and 200 MA. Price Action has a high probability of respecting the level.
The Swing High is immediate objective, exceeding this level increases the probability of a trend continuation.
Both oscillators are trading in extended conditions; a reversion back to their mean is highly probable. There is a volume climax node, indicating a temporary bottom, bullish price action needs bullish volume follows through.
Overall, in my opinion, EGLDUSDT 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!,
“In trading, everything works sometimes and nothing works always.”
Today’s analysis – EGLDUSDT – trading above Local S/R where a respect is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(200 MA & .618 Fibonacci Confluence)
- Swing High Objective
- Oscillators Extended
- Volume Climax
EGLDUSDT’s immediate price action is impulsive at current Local S/R, this level has technical confluence with the .618 Fibonacci and 200 MA. Price Action has a high probability of respecting the level.
The Swing High is immediate objective, exceeding this level increases the probability of a trend continuation.
Both oscillators are trading in extended conditions; a reversion back to their mean is highly probable. There is a volume climax node, indicating a temporary bottom, bullish price action needs bullish volume follows through.
Overall, in my opinion, EGLDUSDT 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!,
“In trading, everything works sometimes and nothing works always.”
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
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 ⚔️
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.