FIOBTC Double Bottom| Liquidity Run| Dynamic Resistance| PA

Evening Traders,

Today’s analysis, FIOBTC trading towards a probable double bottom structure, confirmation will be on the break of dynamic resistance.

Points to consider,
- PA approaching trade location
- Equal lows (liquidity run)
- Key dynamic resistance
- Oscillators over-extended
- Swing high target

FIOBTC’s price action is approaching a key trade location where a pivot bullish is probable. This will establish a double bottom in the market structure.

The equal lows increases the probability of a liquidity run, price action closing above with a wick will be indicative.

Breaking the dynamic resistance will confirm trend reversal with the immediate target swing high.

Oscillators both are overextended reaching oversold conditions; this indicates an oversold bounce being probable as price reaches liquidity.

Overall, in my opinion, FIOBTC breaking dynamic resistance will allow for a valid long into swing high. Price action is to be used upon discretion/ management of trade.

What are your thoughts?

Thank you for following my work!

And remember,

“If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” – Mark Douglas