SENATE Range High| .618 Fiboancci| Price Action| Trend

١١ يناير ٢٠٢٢

Evening Traders,

Today’s analysis – SENATE – trading at a key trade location where an impulse to the highs is probable,

Points to consider,
- Price Action Corrective
- Range High Support
- Swing High Objective
- Low Volume

SENATE’s immediate price action is trading at the Range High that is in confluence with the VWAP S/R and the .618 Fiboancci, allowing for a bullish bias.

The Immidiate objective is the Swing High, exceeding this level will lead to a trend continuation.

The current volume profile is below average, an influx is highly imminent when testing a key trade location.

Overall, in my opinion, SENATE 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,

Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone