Long
FTMUSDT Descending Channel| Swing Low| Price Action| Trend
Evening Traders,
Today’s analysis – FTMUSDT – trading in a descending channel where upside resistance is likely to be hit,
Points to consider,
- Price Action Corrective
- Local S/R Support
- Dynamic S/R Resistance
- Declining Volume
FTMUSDT’s immediate price action is corrective, trading at a key trade location (Local S/R) where a bounce is probable, allowing for a bullish bias.
The Dynamic S/R Resistance of the decesending channel is a zone that is likely to get tested upon the rise ( first trouble area).
The current volume is below average, an influx is highly imminent when the next expansion occurs.
Overall, in my opinion, FTMUSDT 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,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Today’s analysis – FTMUSDT – trading in a descending channel where upside resistance is likely to be hit,
Points to consider,
- Price Action Corrective
- Local S/R Support
- Dynamic S/R Resistance
- Declining Volume
FTMUSDT’s immediate price action is corrective, trading at a key trade location (Local S/R) where a bounce is probable, allowing for a bullish bias.
The Dynamic S/R Resistance of the decesending channel is a zone that is likely to get tested upon the rise ( first trouble area).
The current volume is below average, an influx is highly imminent when the next expansion occurs.
Overall, in my opinion, FTMUSDT 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,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
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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!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/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.