Today’s analysis – IOSTUSDT – trading above it Local S/R where an impulse is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Swing High Objective
IOSTUSDT’s immediate price action is impulsive, trading above a key location, allowing for a bias.
The Swing High is the immediate objective, exceeding this level increases the probability of a trend continuation.
The current is on an increase, follow through is critical for a continued momentum.
Overall, in my opinion, IOSTUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
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“Trading mastery is a state of complete acceptance of probability, not a state of fight it.”
― Yvan Byeajee