FTTUSDT Local S/R| .618 Fibonacci| 200 M| Price Action Evening Traders,
Today’s analysis – FTTUSDT – trading above its Local S/R where further upside is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- (.618 Fibonacci Confluence)
- 200 MA Support
- Swing High Objective
FTTUSDT’s immediate price action is impulsive, trading above its Local S/R that has technical confluence with the .618 Fibonacci and the 200 MA Support, allowing for a bullish bias.
The immediate objective is swing high, exceeding this level will increase the probability of a trend continuation.
Both oscillators are trading in over-extended conditions, a reversal back to their bullish control zones will be indicative of strength.
Overall, in my opinion, FTTUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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And remember,
"Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment" - Joe Vidich
