The price is creating a falling wedge on the monthly support of 113$ after several rejections from the dynamic resistance.
On the 4h timeframe, the price is testing the 4h resistance after a first false breakout.
The price needs to hold the monthly support to avoid invalidating the setup
How to approach?
If the price is going to have a breakout from the falling wedge and 4h resistance, According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
On the 4h timeframe, the price is testing the 4h resistance after a first false breakout.
The price needs to hold the monthly support to avoid invalidating the setup
How to approach?
If the price is going to have a breakout from the falling wedge and 4h resistance, According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.