1INCH / TETHER analysis: We are testing broken triangle.
On the 1INCH / TETHER chart on the daily timeframe we see the formed triangle, which is already broken up and now tested.
The price is fighting on Pivot point support S1 and level 0.618 of Fibonacci retracement. Plus edge of triangle.
The main areas of support and resistance are also marked. The red line shows us the Point Of Control, this is a fair price area. Always works as a magnet.
When we switch to a lower time frame, the situation is clearer.
Now you need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy now.
I will discuss all the essentials with my students today and based on our Price action strategy we will look for a suitable place to enter.
Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
Please leave a comment or like.
Happy trading, Alex_UCT
The price is fighting on Pivot point support S1 and level 0.618 of Fibonacci retracement. Plus edge of triangle.
The main areas of support and resistance are also marked. The red line shows us the Point Of Control, this is a fair price area. Always works as a magnet.
When we switch to a lower time frame, the situation is clearer.
Now you need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy now.
I will discuss all the essentials with my students today and based on our Price action strategy we will look for a suitable place to enter.
Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
Please leave a comment or like.
Happy trading, Alex_UCT