EGLDUSDT Structural S/R|Swing High|Declining Volume|Price Action

Evening Traders,

Today’s analysis - EGLDUSDT- trading above Structural S/R where holding this level is considered bullish ,

Points to consider,
- Price action impulsive
- Structural S/R Support
(.382 Fibonacci Confluence )
- Swing High Objective
- Declining Volume

EGLDUSDT’s immediate price action is trading at a key trade location that has technical confluence with the .382 Fibonacci, this allows for a bullish bias.

Swing High is the immediate objective, price action exceeding this level is indicative of trend continuation.

The volume profile is currently declining, this is indicative of an influx occurring, especially at key trade locations.

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

Hope this analysis helps

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looks good to me. thumbsup. great overview
+1 Reply
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