Evening Traders,
In this analysis we will focus on – NWCUSDT, Price Action is currently trading at a key trade location where a reversal is probable.
Points to consider,
- Price Action Liquidity
- Local S/R Support
- Range High Target
- RSI Divergence
- POC Extended Target
NWCUSDT’s immediate price action is trading at local S/R support, a demand zone that has been historically respected thus a bounce being probable. This allows us to have a bullish bias on the market.
Price Action is respecting untapped liquidity with a probable bullish divergence forming. The RSI has made a higher low in respect to price making a lower low, this is indicative of momentum shifting.
The range high is the immediate target; price is likely to stall for a lower high at the .618 Fibonacci before continuation. The extended target is the POC, markets like to move where liquidity is thus this target can be managed as a swing trade.
Overall, in my opinion, NWCUSDT is a valid lone with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
In this analysis we will focus on – NWCUSDT, Price Action is currently trading at a key trade location where a reversal is probable.
Points to consider,
- Price Action Liquidity
- Local S/R Support
- Range High Target
- RSI Divergence
- POC Extended Target
NWCUSDT’s immediate price action is trading at local S/R support, a demand zone that has been historically respected thus a bounce being probable. This allows us to have a bullish bias on the market.
Price Action is respecting untapped liquidity with a probable bullish divergence forming. The RSI has made a higher low in respect to price making a lower low, this is indicative of momentum shifting.
The range high is the immediate target; price is likely to stall for a lower high at the .618 Fibonacci before continuation. The extended target is the POC, markets like to move where liquidity is thus this target can be managed as a swing trade.
Overall, in my opinion, NWCUSDT is a valid lone with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
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Disclaimer
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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.