Descrição
⋅ Evening Traders,
(Post is not on my usual computer, apologies for any discrepancies)
Today's analysis - RSRUSDT - Trading above Local S/R, holding these regions is deemed bullish for trend continuation.
Points to consider,
- Price Action Bullish
- Local S/R Support (.382 Fibonacci Confluence)
- Swing High Objective
- POC Resistance
RSRUSDT's immediate price action is impulsive above Local S/R, this allows us to have a bullish bias on the market.
Current Local S/R has technical confluence with the .382 Fibonacci, price action deviating towards it is likely to respect it.
The swing high is local objective, clearing this level with increasing volume will increase the probability of trend continuation.
Current POC is acting as resistance, this area being cleared in the immediate short term will be indicative of strength in price action
Overall, in my opinion, RSRUSDT is a valid long withj defined risk, price action is to be used upon discretion/ management.
hope this analysis helps!
thank you for following my work
And remember!
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee