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LTCUSDT PA Channel| POC| .618 Fibonacci| Low Volume Evening Traders, Today’s analysis – LTCUSDT – trading at an area of confluence wither a rotation to the highs is probable, Points to consider, - Price Action Impulsive - POC S/R Support (.618 Fibonacci & VWAP Support) - Low Volume - Uptrend LTCUSDT’s immediate price action is impulsive and is trading at a trade location that has technical confluence with the VWAP S/R and the .618 Fibonacci, allowing for a bullish bias. The current volume profile is below average, an influx is needed for a trend continuation. The current trend is bullish in a PA Channel, maintain the current support will keep the market structure intact. Overall, in my opinion, LTCUSDT 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, “Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota
Long
by AzizKhanZamani
3
EURUSD Recent Price Action| Identifying a break of a key levelEvening Traders, In this educational post I will analyse how a price action level breaks and puts in a retest. Assessing the chart, we have a clear Resistance on the left that was breached with an impulse break. The level was retested and confirmed as support with an S/R Flip Retest. This shows strength in the price action; however volume was not evident, leading to a bearish expansion back below the level. EURUSD eventually retraced and broke the resistance again with a strong impulse and is currently trading above the level. For this breakout to be valid on the retest, we need to see an increase in the volume profile. This will signify a true break as incoming volume will lead to an expansion. I hope this educational peace helped, Thank you for following my work!
Education
by AzizKhanZamani
2
EURAUD: POTENTIAL CYPHER / Nice R/ROn FX:EURAUD , the price moves sideways. There is a potential cypher pattern, which gives an opportunity to go short. Moreover, the price going close to resistance at 1.5397, which gives an additional support to this pattern validity. T1 - 38.2% T2 - 61.8% ----------------------------------------------------------------------------------------------------------------------------------------------------- Trading Books Online - www.trading-library.com Top 10 Forex Brokers List - www.best10forex.com
Short
by Art_of_Trading