Evening Traders,
Today’s analysis – SXPUSDT – trading in a ascending channel with support confluence, allowing for further upside,
Points to consider,
- Price Action Impulsive
- Descending Channel Support
- Daily S/R Objective
- Low Volume
SXPUSDT’s immediate price action is trading at a support confluence zone, the channel support and the Order Block, allowing for a bullish bias.
The immediate objective is the Daily S/R, exceeding this level increases the probability of a trend continuation.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, SXPUSDT 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,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
Today’s analysis – SXPUSDT – trading in a ascending channel with support confluence, allowing for further upside,
Points to consider,
- Price Action Impulsive
- Descending Channel Support
- Daily S/R Objective
- Low Volume
SXPUSDT’s immediate price action is trading at a support confluence zone, the channel support and the Order Block, allowing for a bullish bias.
The immediate objective is the Daily S/R, exceeding this level increases the probability of a trend continuation.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, SXPUSDT 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,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
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Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
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— 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.
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.