EGLDUSDT Impulsive PA| POC Resistance| Weekly S/R| Trend

Evening Traders,

Today’s analysis – EGLDUSD – trading towards an area f resistance where a rejection is plausible,

Points to consider,
- Price action corrective
- POC Resistance
- .786 Fibonacci Resistance
- Weekly S/R Resistance

EGLDUSD’s immediate price action is trading towards an area where there is technical confluence with the .786, POC, and two HTF levels, allowing fr a bearish bias.

The immediate objective will be the lower Int-Daily S/R, testing this region will create a local trading range.

Overall, in my opinion, EGLDUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“This lack of support is not simply an absence of encouragement. It can be as deep as the outright denial of some particular way in which we want to express ourselves.”
― Mark Douglas