ELABTC Range Low| Volume Influx| Price Action| Trend
Evening Traders,
Today’s analysis – ELABTC – trading above its Range Low where a bullish retest is probable,
Points to consider,
- Price Action Impulsive
- Range Low Support
(.382 Fibonacci Confluence)
- Range High Objective
- Volume Influx
ELABTC’s immediate price action is impulsive, breaking a key level allows for a bullish bias on the retest that has confluence with the .382 Fibonacci.
The immediate objective is the swing high, exceeding this level increases the probability of a trend continuation.
Current volume profile has an influx, follow through is critical to sustain strength.
Overall, in my opinion, ELABTC 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,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeaje
Today’s analysis – ELABTC – trading above its Range Low where a bullish retest is probable,
Points to consider,
- Price Action Impulsive
- Range Low Support
(.382 Fibonacci Confluence)
- Range High Objective
- Volume Influx
ELABTC’s immediate price action is impulsive, breaking a key level allows for a bullish bias on the retest that has confluence with the .382 Fibonacci.
The immediate objective is the swing high, exceeding this level increases the probability of a trend continuation.
Current volume profile has an influx, follow through is critical to sustain strength.
Overall, in my opinion, ELABTC 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,
“In order to succeed, you first have to be willing to experience failure.”
― Yvan Byeaje