LRCUSDT Descending Channel| VWAPS/R| Swing High| Price Action Evening Traders,
Today’s analysis – LRCUSDT – trading in a clear descending channel where a break bullish is probable,
Points to consider,
- Price Action Impulsive
- Local OB Support
(VWAP S/R and .618 Fibonacci Confluence)
- Volume Low
- Oscillators Neutral
LRCUSDT’s immediate price action is impulsive, trading towards a key trade location that has technical confluence with the .618 Fibonacci, VWAP S/R and Local OB – this allows for a bullish bias.
The current volume is trading below average, an influx will be highly imminent when an expansion occurs.
Both oscillators are of current are trading neutral, maintaining their bullish control zones will be indicative of strength.
Overall, in my opinion, LRCUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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And remember,
“Money matters, but not as much as you probably think.”
― Yvan Byeajee
