THETAUSDT Broadening Wedge| 200 MA| Range High| Price Action
Evening Traders,
Today’s analysis – THETAUSDT – price action trading at range mid in a broadening wedge pattern, a retest of range high is probable.
Points to consider,
- Bullish Price Action
- Dynamic S/R Flip
- 200 MA Support
- Oscillators Neutral
- Volume Below Average
THETAUSDT’s immediate price action is holding a higher low projection. Breaking bullish of the descending broadening pattern in confluence allows us to have a bullish bias on the market.
The Dynamic S/R has been flipped with a confirmed S/R flip retest. The intra-day target sits at range high where resistance will be expected.
The 200 MA is valid support; price breaking below will increase the probability of testing range low.
Both oscillators are currently neutral in the bullish control zone respectively. Maintain these levels are indicative of strength in the immediate short term.
Volume is currently trading below average; an influx is highly probable when price expansion occurs.
Overall, in my opinion, THETAUSDT- 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,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
Today’s analysis – THETAUSDT – price action trading at range mid in a broadening wedge pattern, a retest of range high is probable.
Points to consider,
- Bullish Price Action
- Dynamic S/R Flip
- 200 MA Support
- Oscillators Neutral
- Volume Below Average
THETAUSDT’s immediate price action is holding a higher low projection. Breaking bullish of the descending broadening pattern in confluence allows us to have a bullish bias on the market.
The Dynamic S/R has been flipped with a confirmed S/R flip retest. The intra-day target sits at range high where resistance will be expected.
The 200 MA is valid support; price breaking below will increase the probability of testing range low.
Both oscillators are currently neutral in the bullish control zone respectively. Maintain these levels are indicative of strength in the immediate short term.
Volume is currently trading below average; an influx is highly probable when price expansion occurs.
Overall, in my opinion, THETAUSDT- 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,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader