SUSHIUSDT Daily S/R| .618 Fibonacci| Price Action| Trend
Evening Traders, '
Today’s analysis – SUSHIUSDT- trading towards a key resistance zone where a rejection is possible
Points to consider,
- Price Action Corrective
- Daily S/R Resistance
- .618 Fibaoncci Resistance
- Previous Consolidation Zone
SUSHIUSDT’s immediate price action is trading towards a key resistance zone that is in confluence with the .618 Fibaoncci and two Daily S/R levels, this allows for a bearish bias.
A change in market structure will be needs to confirm a trend reversals, this needs to occur at the previous consolidation zone.
The immediate objective of this trade is the lower Weekly S/R
It is important that one uses price action upon discretion/ management of this trade, invalidation is multiple candle closes above the last Daily S/R resistance.
Thank you for following my work
And remember,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Today’s analysis – SUSHIUSDT- trading towards a key resistance zone where a rejection is possible
Points to consider,
- Price Action Corrective
- Daily S/R Resistance
- .618 Fibaoncci Resistance
- Previous Consolidation Zone
SUSHIUSDT’s immediate price action is trading towards a key resistance zone that is in confluence with the .618 Fibaoncci and two Daily S/R levels, this allows for a bearish bias.
A change in market structure will be needs to confirm a trend reversals, this needs to occur at the previous consolidation zone.
The immediate objective of this trade is the lower Weekly S/R
It is important that one uses price action upon discretion/ management of this trade, invalidation is multiple candle closes above the last Daily S/R resistance.
Thank you for following my work
And remember,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager