Evening Traders,
Today’s analysis – SOLUSD – trading in a rising channel where a breakout will be imminent,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- .618 Fibonacci Objective
- Low Volume
SOLUSD’s immediate price action is impulsive and is trading in a rising channel that is deemed to break, breaking downside to support levels allows for a bullish bias.
The current Daily S/R is resistance, breaking the level will invalidate to idea, leading onto a more bullish scenario.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, SOLUSD is a valid long at support levels with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeajee,
Today’s analysis – SOLUSD – trading in a rising channel where a breakout will be imminent,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- .618 Fibonacci Objective
- Low Volume
SOLUSD’s immediate price action is impulsive and is trading in a rising channel that is deemed to break, breaking downside to support levels allows for a bullish bias.
The current Daily S/R is resistance, breaking the level will invalidate to idea, leading onto a more bullish scenario.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, SOLUSD is a valid long at support levels with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeajee,
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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.