YFIUSDT Swing Low| Local S/R| Volume Climax| Price Action

9 paź 2020

Evening Traders,

Today’s Analysis – YFIUSDT- establishing a swing low, a higher low will increase the probability of a local trend change.

Points to consider,
- Impulse Price Action
- Local S/R Support
- Structural S/R Resistance
- RSI Resistance
- Volume Climax

YFIUSDT’s immediate price action has been impulsive with increasing volume. A bullish directional bias will come to fruition with a valid hold and respect of the Local S/R.

Structural S/R is current resistance; price is likely to have a bearish reaction upon first test. Breaking this key level will coincide with a confirmed trend change.

The RSI is testing its key 50-mid point; breaching above is a sign of strength as momentum shifts in the market.

There is a valid volume climax node marking a temporary bottom, volume follow through will coincide with the direction of the trend.

Overall, in my opinion, respecting Local S/R is a valid long with defined risk. Price action is to be used upon discretion/ management of trade.

Hope this analysis helps

Thank you for following my work!

And remember,

“Trading mastery is a state of complete acceptance of probability, not a state of fight it.”
― Yvan Byeajee