Evening Traders, '
Today’s analysis – SUSHIUSDT- trading towards a key resistance zone where a rejection is possible
Points to consider,
- Price Action Corrective
- Daily S/R Resistance
- .618 Fibaoncci Resistance
- Previous Consolidation Zone
SUSHIUSDT’s immediate price action is trading towards a key resistance zone that is in confluence with the .618 Fibaoncci and two Daily S/R levels, this allows for a bearish bias.
A change in market structure will be needs to confirm a trend reversals, this needs to occur at the previous consolidation zone.
The immediate objective of this trade is the lower Weekly S/R
It is important that one uses price action upon discretion/ management of this trade, invalidation is multiple candle closes above the last Daily S/R resistance.
Thank you for following my work
And remember,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Today’s analysis – SUSHIUSDT- trading towards a key resistance zone where a rejection is possible
Points to consider,
- Price Action Corrective
- Daily S/R Resistance
- .618 Fibaoncci Resistance
- Previous Consolidation Zone
SUSHIUSDT’s immediate price action is trading towards a key resistance zone that is in confluence with the .618 Fibaoncci and two Daily S/R levels, this allows for a bearish bias.
A change in market structure will be needs to confirm a trend reversals, this needs to occur at the previous consolidation zone.
The immediate objective of this trade is the lower Weekly S/R
It is important that one uses price action upon discretion/ management of this trade, invalidation is multiple candle closes above the last Daily S/R resistance.
Thank you for following my work
And remember,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
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Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.