The price created a double top on the daily time frame on 0.5$
On the 4h timeframe the price is creating a M pattern and now the market is testing the 0.5 Fibonacci level on the 4h support.
How to approach?
IF the price is going to lose the support and retest it as new 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 creating a M pattern and now the market is testing the 0.5 Fibonacci level on the 4h support.
How to approach?
IF the price is going to lose the support and retest it as new 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.
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Follow the Shrimp 🦐
Note
The price is testing the 4h support and the dynamic support of the descending channel. Bear if the price is going to lose the supportNote
So far so good 4%Note
6% so far.If the price confirms the 4h breakout, the next valid support is 0.786 Fibonacci level
Note
The price wants to retest the 0.786 Fibonacci level as I told you in the main analysisNote
As I told you, The price wanted the 0.786 Fibonacci LevelNote
8% so far, more if the price is going to have a new breakout from the bear flagNote
8% so far, and the price could retest the Daily support after the breakout from the bear flagNote
Note
33% 🤷🏻♂️
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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.