SOLUSD Pullback Correction?| Price Action| Trend| Trade

Evening Traders,

Today’s analysis – SOLUSD – trading in a rising channel where a breakout will be imminent,

Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- .618 Fibonacci Objective
- Low Volume

SOLUSD’s immediate price action is impulsive and is trading in a rising channel that is deemed to break, breaking downside to support levels allows for a bullish bias.

The current Daily S/R is resistance, breaking the level will invalidate to idea, leading onto a more bullish scenario.

The current volume profile is below average, an influx is highly imminent when testing a key trade location.

Overall, in my opinion, SOLUSD is a valid long at support levels with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeajee,