Today’s analysis – UFTBUSD- trading at a key location where a deviation is probable,
Points to consider,
- Price action impulsive
- Daily S/R Support
- Swing High Objective
UFTBUSD’s immediate price action is impulsive, trading above a key Daily S/R where mainting this level allows for a bias.
The Swing High is the current objective, exceeding this level will increase the probability of testing higher targets.
The current is below average, this is an indication of an influx being probable when an expansion occurs.
Overall, in my opinion, UFTBUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb