Description
⋅ Evening Traders,
Today’s analysis – XLMUSDT – trading above its Daily S/R where a respect is probable,
Points to consider,
- Price Action impulse
- Daily S/R Support
- Swing High Objective
- 200 EMA Confluence
XLMUSDT’s immediate price action is impulsive, respecting its Daily S/R that has technical confluence allows for a long bias.
The immediate objective is the swing high; exceeding this level increases the probability of a trend continuation.
The current volume profile is on an increase; follow through it critical for sustained momentum.
Overall, in my opinion, XLMUSDT 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,
“You have power over how you'll respond to uncertainty.” ― Yvan Byeajee