SLPUSDT PA Range| Swing High| Fibonacci Extension| Accumulation
Evening Traders,
Today’s analysis – SLPUSDT – trading towards its range low with possible accumulation,
Points to consider,
- Price Action Corrective
- Range Low Support
- Range High Resistance
- Low Volume
- RSI Bearish Control Zone
SLPUSDT’s immediate price action is trading towards its range low where there is technical confluence with an order block, allowing for a bullish bias.
The range high is the immediate resistance, exceeding this level will lead to a trend continuation, the break however needs to be backed with increasing volume.
The RSI is currently trading in its bearish control zone, reclaiming the mid-point will be indicative of strength.
Overall, in my opinion, SLPUSDT 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,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee
Today’s analysis – SLPUSDT – trading towards its range low with possible accumulation,
Points to consider,
- Price Action Corrective
- Range Low Support
- Range High Resistance
- Low Volume
- RSI Bearish Control Zone
SLPUSDT’s immediate price action is trading towards its range low where there is technical confluence with an order block, allowing for a bullish bias.
The range high is the immediate resistance, exceeding this level will lead to a trend continuation, the break however needs to be backed with increasing volume.
The RSI is currently trading in its bearish control zone, reclaiming the mid-point will be indicative of strength.
Overall, in my opinion, SLPUSDT 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,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee