BLURUSD Daily S/R| POC| Range Low| Price Action

22 feb 2023

Evening Traders,

Today’s analysis, BLURUSDT, trading towards its range low, holding and consolidating will be a bullish sign,

Points to consider,
- Price Actin Corrective
- Daily S/R Support
- POC S/R Support
- PA Rotation

BLURUSD’s immediate price action is corrective and is at an area that has technical confluence with the .618 Fibaoncci, POC and Daily S/R, allowing for a bullish bias.

Consolidating and creating a bottoming structure will be a sign of strength, this has yet to be produced.

Overall, in my opinion, BLURUSDT 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,

“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager