Evening Traders,
Today’s analysis – EGLDUSDT- trading around range low where a deviation to range high is probable,
Points to consider,
- Price Action impulsive
- Range Low Support
(.618 Fibonacci Confluence)
- Range High Resistance
- Low Volume
EGLDUSDT’s immediate price action is impulsive, trading towards range low that is in technical confluence with the .618 Fibonacci, allowing for a long bias.
The immediate objective is swing high, exceeding this level will increase the probability of a trend continuation.
The volume profile currently is below average, this is indicative of a price action expansion occurring.
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,
“Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah’
Today’s analysis – EGLDUSDT- trading around range low where a deviation to range high is probable,
Points to consider,
- Price Action impulsive
- Range Low Support
(.618 Fibonacci Confluence)
- Range High Resistance
- Low Volume
EGLDUSDT’s immediate price action is impulsive, trading towards range low that is in technical confluence with the .618 Fibonacci, allowing for a long bias.
The immediate objective is swing high, exceeding this level will increase the probability of a trend continuation.
The volume profile currently is below average, this is indicative of a price action expansion occurring.
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,
“Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah’
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Unlock Blofin Bonuses
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.