LUNAUSD H&S Pattern| Pullback| Int- Daily S/R| .618 Fib| PA
Evening Traders,
Today’s analysis, LUNAUSDT – trading in a trend that is potentially coming to an end, allowing for a pullback to long,
Points to consider,
- Price Action Impulsive
- Potential Head and Shoulders
- .618 Fibonacci Support
- Int-Daily S/R Confluence
- Higher Low Objective
LUNUSD’s immediate price action is impulsive and is trading with a potential head and shoulders, hinting towards a correction for a test of the lower Int- Daly S/R.
The lower level of support is in confluence with the .618 Fiboancci and the VAL of the current up-trend. Holding this level is critical for a bounce and the start of wave three.
Overall, in my opinion, LUNAUSD 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,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee
Today’s analysis, LUNAUSDT – trading in a trend that is potentially coming to an end, allowing for a pullback to long,
Points to consider,
- Price Action Impulsive
- Potential Head and Shoulders
- .618 Fibonacci Support
- Int-Daily S/R Confluence
- Higher Low Objective
LUNUSD’s immediate price action is impulsive and is trading with a potential head and shoulders, hinting towards a correction for a test of the lower Int- Daly S/R.
The lower level of support is in confluence with the .618 Fiboancci and the VAL of the current up-trend. Holding this level is critical for a bounce and the start of wave three.
Overall, in my opinion, LUNAUSD 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,
“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee