LUNAUSDT Price Action| POC| .618 Fibonacci| Resistance
Evening Traders,
Today’s analysis – LPUNAUSDT- trading at a key resistance level where a rejection is probable,
Points to consider,
- Price Action Corrective
- POC S/R Resistance
- .618 Fibonacci Resistance
- Local OB Resistance
- Low Volume
LUNAUSDT’s immediate price action is trading at a key resistance level that is in technical confluence with the POC. .618 Fibonacci and the Local OB, allowing for a bearish bias.
The current volume profile is below average, an influx is needed in the next expansion.
Exceeding the current resistance level will lead to a trend continuation.
Overall, in my opinion, LUNAUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Taking responsibility means acknowledging and accepting, at the deepest part of your identity, that you—not the market—are completely responsible for your success or failure as a trader.”
― Mark Douglas
Today’s analysis – LPUNAUSDT- trading at a key resistance level where a rejection is probable,
Points to consider,
- Price Action Corrective
- POC S/R Resistance
- .618 Fibonacci Resistance
- Local OB Resistance
- Low Volume
LUNAUSDT’s immediate price action is trading at a key resistance level that is in technical confluence with the POC. .618 Fibonacci and the Local OB, allowing for a bearish bias.
The current volume profile is below average, an influx is needed in the next expansion.
Exceeding the current resistance level will lead to a trend continuation.
Overall, in my opinion, LUNAUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Taking responsibility means acknowledging and accepting, at the deepest part of your identity, that you—not the market—are completely responsible for your success or failure as a trader.”
― Mark Douglas