Today’s analysis – SHIBUSDT- trading at a local resistance area where a pullback will allow for a long,
Points to consider, - Price action impulsive - Daily S/R Support - Range Low Support - Psfp Objective
SHIBUSDT’s immediate price action is rejection from local resistance, allowing for a pullback into support confluence of a Daily S/R , Psfp and Range Low.
Holding the pullback will mean a potential rotation back towards range high, the overall objective is the Psfp.
Overall, in my opinion, SHIBUSDT is a valid long after a pull back with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work,
And remember, “Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.” -Jesse Livermore