IOSTUSDT | S/R Flip | Volume Climax | .618 Fibonacci
Todays analysis - IOSTUSDT – retracing after a strong breakthrough structural resistance.
Points to consider:
- S/R flip Re-test
- Support confluence
- 55 EMA – visual guide
- Volume climax
- Oscillators overextended
IOST is likely to retrace back to structural resistance after a bullish pattern break, S/R flip needs to hold for a valid long trade.
Structural support in confluence with .618 Fibonacci retracement further solidifies the true trade location.
IOST trading above the 55 Exponential Moving Average, acting as a visual guide, price must hold on retest to support the bullish bias.
Volume climax evident, indication of buyer exhaustion, temporary top may be in as price finds its equilibrium before another probable impulse move.
Both, the RSI and Stochastics trading in overextended conditions, a retrace in price will allow oscillators to cool off, creating space for further bullish momentum.
Overall, in my opinion, a long trade is validated on a successful S/R flip re-test.
What are your thoughts? Let me know in the comments below!
Be sure to leave a like and follow me for daily chart updates.
As always - focus on you, and the money will too!
Points to consider:
- S/R flip Re-test
- Support confluence
- 55 EMA – visual guide
- Volume climax
- Oscillators overextended
IOST is likely to retrace back to structural resistance after a bullish pattern break, S/R flip needs to hold for a valid long trade.
Structural support in confluence with .618 Fibonacci retracement further solidifies the true trade location.
IOST trading above the 55 Exponential Moving Average, acting as a visual guide, price must hold on retest to support the bullish bias.
Volume climax evident, indication of buyer exhaustion, temporary top may be in as price finds its equilibrium before another probable impulse move.
Both, the RSI and Stochastics trading in overextended conditions, a retrace in price will allow oscillators to cool off, creating space for further bullish momentum.
Overall, in my opinion, a long trade is validated on a successful S/R flip re-test.
What are your thoughts? Let me know in the comments below!
Be sure to leave a like and follow me for daily chart updates.
As always - focus on you, and the money will too!
