Today’s analysis – TRUUSDT- trading above its Local S/R where a bounce is probable,
Points to consider, - Price Action Impulsive - Local S/R Support (.618 Fibonacci Confluence ) - Swing High Objective - Low Volume
TRUUSDT immediate price action is impulse and testing the Local S/R which is in confluence with the .618 Fibonacci, allowing for a bullish bias.
The Swing High is the immediate objective, exceeding this level will continue the overall trend.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, TRUUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
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“Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your butt.” – Paul Tudor Jones