The price had a breakout from the descending channel and created a rounded bottom above the weekly support.
on the 4h timeframe, the price is testing the 0.3$ resistance and the market is in a consolidation phase between the weekly and daily structures.
The price already retested a Fibonacci level of the 0.382 Fibonacci level
How to approach?
The price needs a new breakout from the confluence zone, above the 0.31$ with the retest. So if the price is going to have a breakout, 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 0.3$ resistance and the market is in a consolidation phase between the weekly and daily structures.
The price already retested a Fibonacci level of the 0.382 Fibonacci level
How to approach?
The price needs a new breakout from the confluence zone, above the 0.31$ with the retest. So if the price is going to have a breakout, 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 🦐
Note
The price is going to create Cup and Handle!Note
a clear breakout from the pennant and we are running in profitNote
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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.