DIAUSDT Falling Wedge|Price Action Apex|Swing Low|200MA|.618 Fib
Evening Traders,
Second Analysis – DIAUSDT- trading in a falling wedge formation where a confirmation will be on a break of dynamic resistance.
Points to consider,
- Price Action Apex
- Market Structure Lower Lows
- Key Dynamic Resistance (.618 Fibonacci Confluence)
- RSI Divergence Forming
DIAUSDT is trading towards its apex in a bullish falling wedge pattern were a confirmation will allow us to have a bullish bias on the market.
The market structure is currently making lower lows on dynamic support, holding this on the next test will increase the probability of a bullish divergence on the RSI.
The volume profile is currently below average, a break of resistance will need increasing volume. This will signal a true breakout, aiding in avoidance of fake outs.
Immediate target is the bearish retest zone which is in confluence with the .618 Fibonacci and market structure. A respect of resistance here is highly probable on the first test.
Overall, in my opinion, DIAUSDT is a valid long once the falling wedge pattern is confirmed. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
Second Analysis – DIAUSDT- trading in a falling wedge formation where a confirmation will be on a break of dynamic resistance.
Points to consider,
- Price Action Apex
- Market Structure Lower Lows
- Key Dynamic Resistance (.618 Fibonacci Confluence)
- RSI Divergence Forming
DIAUSDT is trading towards its apex in a bullish falling wedge pattern were a confirmation will allow us to have a bullish bias on the market.
The market structure is currently making lower lows on dynamic support, holding this on the next test will increase the probability of a bullish divergence on the RSI.
The volume profile is currently below average, a break of resistance will need increasing volume. This will signal a true breakout, aiding in avoidance of fake outs.
Immediate target is the bearish retest zone which is in confluence with the .618 Fibonacci and market structure. A respect of resistance here is highly probable on the first test.
Overall, in my opinion, DIAUSDT is a valid long once the falling wedge pattern is confirmed. Price action is to be used upon discretion/ management of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee