Long
RENUSDT Local S/R| Swing High| Price Action| Volume
Evening Traders,
Today’s analysis – RENUSDT – trading above a key technical location where a deviation is probable,
Points to consider
- Price Action Impulsive
- Local S/R Support
- .618 Fibonacci Resistance
- Swing High Objective
RENUSDT’s immediate price action is impulsive, trading above the Local S/R, confirming it as support allows for a bullish bias towards the .618 Fibonacci Resistance.
The Swing High is current objective, exceeding this level will increase the probability of continuing the current trend.
Current volume profile is increasing, this needs to sustain for continued momentum to the upside.
Overall, in my opinion, RENUSDT 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,
“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
Today’s analysis – RENUSDT – trading above a key technical location where a deviation is probable,
Points to consider
- Price Action Impulsive
- Local S/R Support
- .618 Fibonacci Resistance
- Swing High Objective
RENUSDT’s immediate price action is impulsive, trading above the Local S/R, confirming it as support allows for a bullish bias towards the .618 Fibonacci Resistance.
The Swing High is current objective, exceeding this level will increase the probability of continuing the current trend.
Current volume profile is increasing, this needs to sustain for continued momentum to the upside.
Overall, in my opinion, RENUSDT 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,
“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
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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.