LTCUSDT PA Channel| POC| .618 Fibonacci| Low Volume
Evening Traders,
Today’s analysis – LTCUSDT – trading at an area of confluence wither a rotation to the highs is probable,
Points to consider,
- Price Action Impulsive
- POC S/R Support
(.618 Fibonacci & VWAP Support)
- Low Volume
- Uptrend
LTCUSDT’s immediate price action is impulsive and is trading at a trade location that has technical confluence with the VWAP S/R and the .618 Fibonacci, allowing for a bullish bias.
The current volume profile is below average, an influx is needed for a trend continuation.
The current trend is bullish in a PA Channel, maintain the current support will keep the market structure intact.
Overall, in my opinion, LTCUSDT 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,
“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota
Today’s analysis – LTCUSDT – trading at an area of confluence wither a rotation to the highs is probable,
Points to consider,
- Price Action Impulsive
- POC S/R Support
(.618 Fibonacci & VWAP Support)
- Low Volume
- Uptrend
LTCUSDT’s immediate price action is impulsive and is trading at a trade location that has technical confluence with the VWAP S/R and the .618 Fibonacci, allowing for a bullish bias.
The current volume profile is below average, an influx is needed for a trend continuation.
The current trend is bullish in a PA Channel, maintain the current support will keep the market structure intact.
Overall, in my opinion, LTCUSDT 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,
“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota