LITUSD Falling Channel| Local Ob| Price Action| Trend
Evening Traders,
Today’s analysis – LITUSD – trading in a local down trend where follow through is probable,
Points to consider,
- Price Action corrective
- Local OB S/R Resistance
- Daily S/R Support
- RSI Divergence
LITUSD’s immediate price action is corrective and is trading under a Local OB allowing for a bearish bias.
The Daily S/R is the immediate support, testing this level will allow for a potential bounce.
The RSI has a bullish divergence forming, playing out will be indicative of strength in price action.
Overall, in my opinion, LITUSD 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,
“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
Today’s analysis – LITUSD – trading in a local down trend where follow through is probable,
Points to consider,
- Price Action corrective
- Local OB S/R Resistance
- Daily S/R Support
- RSI Divergence
LITUSD’s immediate price action is corrective and is trading under a Local OB allowing for a bearish bias.
The Daily S/R is the immediate support, testing this level will allow for a potential bounce.
The RSI has a bullish divergence forming, playing out will be indicative of strength in price action.
Overall, in my opinion, LITUSD 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,
“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
Join for free daily report cards - bitcoininsider.world/
Follow me on Twitter! twitter.com/pinkdawn__
Follow me on Twitter! twitter.com/pinkdawn__
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.