Long

EGLDUSDT| PA Range| Bullish OB| Swing High| Internal S/R

Evening Traders,

Today’s analysis – EGLDUSDT- trading at a key range low where an impulse to range high is probable,

Points to consider,
- Price Action Impulsive
- Range Low Support
(Bullish OB Confluence)
- Internal S/R respected
- Declining Volume
- Range High Objective

EGLDUSDT’s immediate price action is impulsive, trading at a key technical support that is in confluence with that Range Low and the Order Block, this allows for a bullish bias.

The internal S/R has been breached and back tested; maintaining this is a bullish sign of further upside being imminent.

The current volume profile is on a decline, an influx will be critical to back bullish momentum, failure will be indicative of weakness.

Range high is the obsolete objective, exceeding this level will increase the probability of taking out swing high.

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,

“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt

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