XMRBTC Trade| S/R Flip Retest |Daily Resistance|Volume Influx
Evening Traders,
Today’s Analysis – XMRBTC – breaking key structure, immediate target is the daily resistance.
Points to consider,
- Market structure HL’s
- Structural Resistance breached (S/R Flip)
- Daily Resistance target
- RSI above 50
- Strong volume influx
XMRBTC’s market structure has been putting in consecutive higher lows under structural resistance; price has established a technical higher high with the recent push.
An S/R flip retest will solidify the structure before a probable impulse move into daily resistance (target).
The RSI is trading above 50 which indicate strength in the market. Momentum is also shifting with the recent stochastics rise.
An influx of volume is present; this indicates a true break of structure as the node engulfed all previous nodes.
Overall, in my opinion, XMRBTC needs to remain trading above structural resistance. This will increase the probability of testing daily resistance. A long trade is valid with a S/L below the 21 MA.
What are your thoughts?
Thank you for following my work!
And remember,
“Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your butt.” – Paul Tudor Jones
Today’s Analysis – XMRBTC – breaking key structure, immediate target is the daily resistance.
Points to consider,
- Market structure HL’s
- Structural Resistance breached (S/R Flip)
- Daily Resistance target
- RSI above 50
- Strong volume influx
XMRBTC’s market structure has been putting in consecutive higher lows under structural resistance; price has established a technical higher high with the recent push.
An S/R flip retest will solidify the structure before a probable impulse move into daily resistance (target).
The RSI is trading above 50 which indicate strength in the market. Momentum is also shifting with the recent stochastics rise.
An influx of volume is present; this indicates a true break of structure as the node engulfed all previous nodes.
Overall, in my opinion, XMRBTC needs to remain trading above structural resistance. This will increase the probability of testing daily resistance. A long trade is valid with a S/L below the 21 MA.
What are your thoughts?
Thank you for following my work!
And remember,
“Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your butt.” – Paul Tudor Jones