EGLDUSDT .618 Fibonacci| Price Action| Trend| Trade
Evening Traders,
Today’s analysis – EGLDUSDT – trading at a key technical location where a bounce is probable,
Points to consider,
- Price Action Impulsive
- .618 Fibonacci Support
- VWAP S/R Support
- Low Volume
EGLUSDT’s immediate price action is contracting on a key support level that has technical confluence with the .618 Fibonacci and the VWAP, allowing for a bullish bias.
The current volume profile is below average, an influx is highly imminent on the expansion.
The immediate is the Daily S/R, exceeding this level will lead to a trend continuation.
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
Thank you for following my work
And remember,
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William O’Neil
Today’s analysis – EGLDUSDT – trading at a key technical location where a bounce is probable,
Points to consider,
- Price Action Impulsive
- .618 Fibonacci Support
- VWAP S/R Support
- Low Volume
EGLUSDT’s immediate price action is contracting on a key support level that has technical confluence with the .618 Fibonacci and the VWAP, allowing for a bullish bias.
The current volume profile is below average, an influx is highly imminent on the expansion.
The immediate is the Daily S/R, exceeding this level will lead to a trend continuation.
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
Thank you for following my work
And remember,
“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William O’Neil