XMRUSDT Daily S/R| Bearish Divergence|.618 Fib|Increasing VolumeEvening traders,
Today’s analysis – XMRUSDT- in a strong uptrend respecting its EMA’s, continuation is likely into daily resistance.
Points to consider,
- Consecutive HH’s &HL’s
- EMA’s support confluence (.618 Fibonacci)
- Daily S/R level (Respected)
- Oscillators diverging
- Increasing volume
XMRUSDT’s trend is establishing higher highs and higher lows; this gives un an immediate bullish bias on the market.
The EMA’s can be used as a support guide in an uptrend, a pullback will be in confluence with the .618 Fibonacci, valid entry point.
Current daily S/R is being respected with a valid bearish divergence (oscillators diverging), this enhances the probability of a short term pullback (higher low).
XMRUSDT has an increasing volume profile , this is healthy in an uptrend, and continuation is needed when breaking key levels.
Overall, in my opinion, XMRUSDT is a valid long upon a pull back, this will allow for a risk defend entry. Price action is to be used upon discretion/ management of the trade.
What are your thoughts?
Thank you for following my work!
And remember, ‘
“Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.” ― Yvan Byeajee
