THETAUSDT| Dynamic S/R| 200DMA| Range Low| Declining Volume
Evening Traders,
Today’s analysis – THETAUSDT – breaking Dynamic S/R, failure to close back above is bearish.
Points to consider,
- Price Action Pivot
- Range Low Support Confluence
- Dynamic S/R Resistance
- Oscillators Neutral
- Declining Volume
THETAUSDT’s immediate price action is below 21 MA and Dynamic Support; this allows us to have a bearish bias in the immediate terms.
Range low is projected support that is in confluence with long liquidity and 200 DMA, price action has a probability of bouncing here on first attempt.
Reclaiming Dynamic S/R will show strength in price action thus negating any bearish biases.
Both oscillators are trading in their respected bearish control zones, remaining in the area will show weakness in the market.
The current volume profile is declining; an influx will be imminent when testing key trade location such as untapped long liquidity.
Overall, in my opinion, THETAUSDT 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,
“When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.”
― Yvan Byeajee
Today’s analysis – THETAUSDT – breaking Dynamic S/R, failure to close back above is bearish.
Points to consider,
- Price Action Pivot
- Range Low Support Confluence
- Dynamic S/R Resistance
- Oscillators Neutral
- Declining Volume
THETAUSDT’s immediate price action is below 21 MA and Dynamic Support; this allows us to have a bearish bias in the immediate terms.
Range low is projected support that is in confluence with long liquidity and 200 DMA, price action has a probability of bouncing here on first attempt.
Reclaiming Dynamic S/R will show strength in price action thus negating any bearish biases.
Both oscillators are trading in their respected bearish control zones, remaining in the area will show weakness in the market.
The current volume profile is declining; an influx will be imminent when testing key trade location such as untapped long liquidity.
Overall, in my opinion, THETAUSDT 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,
“When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.”
― Yvan Byeajee
Join my free telegram! t.me/chartdoctorsanconsultants
Follow me on Twitter! twitter.com/pinkdawn__
Follow me on Twitter! twitter.com/pinkdawn__
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