Evening Traders,
Today’s analysis – TRUUSDT- trading above its Local S/R where a bounce is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.618 Fibonacci Confluence)
- Swing High Objective
- Low Volume
TRUUSDT immediate price action is impulse and testing the Local S/R which is in confluence with the .618 Fibonacci, allowing for a bullish bias.
The Swing High is the immediate objective, exceeding this level will continue the overall trend.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, TRUUSDT 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.
“Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your butt.” – Paul Tudor Jones
Today’s analysis – TRUUSDT- trading above its Local S/R where a bounce is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.618 Fibonacci Confluence)
- Swing High Objective
- Low Volume
TRUUSDT immediate price action is impulse and testing the Local S/R which is in confluence with the .618 Fibonacci, allowing for a bullish bias.
The Swing High is the immediate objective, exceeding this level will continue the overall trend.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, TRUUSDT 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.
“Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your butt.” – Paul Tudor Jones
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Unlock Blofin Bonuses
Trade with perks & support the community!
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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.