Today’s analysis – ZILUSDT- trading at and area of resistance where a rejection is plausible,
Points to consider, - Price action corrective - Weekly S/R Resistance - Daily S/R Support - Impulsive Wave
ZIULUSDT’s immediate price action is trading at a resistance point that is in technical confluence with the POC, Weekly S/R, Int Daily S/R and the .618 Fibonacci, allowing for a potential correction.
The immediate support will be the Daily S/R region, price respecting this rea will allow for completion of Wave Two.
Overall, ZILUSDT is a valid long on the pull back, this will allow for a defined entries, invalidation is multiple candle closes below the Daily S/R Support.
Hope this analysis helps,
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“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros