FTMUSDT Descending Channel| Swing Low| Price Action| Trend
Evening Traders,
Today’s analysis – FTMUSDT – trading in a descending channel where upside resistance is likely to be hit,
Points to consider,
- Price Action Corrective
- Local S/R Support
- Dynamic S/R Resistance
- Declining Volume
FTMUSDT’s immediate price action is corrective, trading at a key trade location (Local S/R) where a bounce is probable, allowing for a bullish bias.
The Dynamic S/R Resistance of the decesending channel is a zone that is likely to get tested upon the rise ( first trouble area).
The current volume is below average, an influx is highly imminent when the next expansion occurs.
Overall, in my opinion, FTMUSDT 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,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Today’s analysis – FTMUSDT – trading in a descending channel where upside resistance is likely to be hit,
Points to consider,
- Price Action Corrective
- Local S/R Support
- Dynamic S/R Resistance
- Declining Volume
FTMUSDT’s immediate price action is corrective, trading at a key trade location (Local S/R) where a bounce is probable, allowing for a bullish bias.
The Dynamic S/R Resistance of the decesending channel is a zone that is likely to get tested upon the rise ( first trouble area).
The current volume is below average, an influx is highly imminent when the next expansion occurs.
Overall, in my opinion, FTMUSDT 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,
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
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