MATICUSDT Falling Wedge| Daily S/R| .382 Fibonacci| Local S/R
Evening Traders,
Today’s Analysis – MATICUSDT- trading in a falling wedge pattern where a break bullish is probable.
Points to consider,
- Price Action Apex
- Local S/R Resistance (.382 Fibonacci Confluence)
- Daily S/R Support
- Oscillators Neutral
- Low Volume
MATICUSDT’s immediate price action is trading in an apex, a break will be imminent. The formation is a bullish pattern, this allows us to have a bullish bias.
Local S/R is current target, this area is in confluence with the .382 Fibonacci, price action has a probability of rejecting here.
Crucial support is Daily S/R, breaking below this level will negate our bullish bias as the falling wedge will no longer be in play.
Both Oscillators are currently neutral whilst volume is evidently low, an influx is highly probable when the breakout occurs.
Overall, in my opinion, MATICUSDT is a valid long with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
“You’re going to learn a million things, then you need to forget them all and focus on one.” -SunriseTrader
Today’s Analysis – MATICUSDT- trading in a falling wedge pattern where a break bullish is probable.
Points to consider,
- Price Action Apex
- Local S/R Resistance (.382 Fibonacci Confluence)
- Daily S/R Support
- Oscillators Neutral
- Low Volume
MATICUSDT’s immediate price action is trading in an apex, a break will be imminent. The formation is a bullish pattern, this allows us to have a bullish bias.
Local S/R is current target, this area is in confluence with the .382 Fibonacci, price action has a probability of rejecting here.
Crucial support is Daily S/R, breaking below this level will negate our bullish bias as the falling wedge will no longer be in play.
Both Oscillators are currently neutral whilst volume is evidently low, an influx is highly probable when the breakout occurs.
Overall, in my opinion, MATICUSDT is a valid long with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
“You’re going to learn a million things, then you need to forget them all and focus on one.” -SunriseTrader