ETHUSDT Monthly S/R| HTF .618 | Psfp | Price Action
Evening Traders,
Today’s analysis- ETHUSDT- trading at a key resistance zone where a rejection lower is possible,
Points to consider,
- Price action impulsive
- Monthly S/R Resistance
- HTF .618 Fiboancci Resistance
- Sfp-entry area
ETHUSDT’s immediate price action is trading in a zone that is considered resistance due to technical confluence such as the Monthly S/R, HTF .618 and Psfp, allowing for a bearish bias.
The immediate objective will be the low Psfp, this is an area of resting liquidity this a magnet for price action.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
Today’s analysis- ETHUSDT- trading at a key resistance zone where a rejection lower is possible,
Points to consider,
- Price action impulsive
- Monthly S/R Resistance
- HTF .618 Fiboancci Resistance
- Sfp-entry area
ETHUSDT’s immediate price action is trading in a zone that is considered resistance due to technical confluence such as the Monthly S/R, HTF .618 and Psfp, allowing for a bearish bias.
The immediate objective will be the low Psfp, this is an area of resting liquidity this a magnet for price action.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite