ENJUSDT ready for the breakout?
ENJUSDT finds itself once more at a crucial juncture as it tests the significant weekly level at $0.23. This level holds substantial importance, as it has historically acted as a pivotal point that the market carefully scrutinizes. Traders are closely observing the price action, as it holds the potential to shape the pair's trajectory in the coming weeks.
The current scenario hinges on the possibility of the price harnessing new liquidity from this critical level, potentially setting the stage for a decisive breakout beyond the $0.26 mark. According to the trading principles championed by Plancton, a prominent figure in the trading community, such a breakout would signal an opportune moment to initiate a new long position.
Plancton's approach emphasizes the importance of liquidity and price confirmation. If the price manages to secure fresh liquidity from the $0.23 level and subsequently orchestrates a clear and convincing breach above the $0.26 range, it aligns with the rulebook set out by Plancton. This rule suggests that the conditions for a favorable long position have been met, potentially leading to a profitable venture for traders who adhere to this methodology.
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Follow the Shrimp 🦐
Keep in mind.
The current scenario hinges on the possibility of the price harnessing new liquidity from this critical level, potentially setting the stage for a decisive breakout beyond the $0.26 mark. According to the trading principles championed by Plancton, a prominent figure in the trading community, such a breakout would signal an opportune moment to initiate a new long position.
Plancton's approach emphasizes the importance of liquidity and price confirmation. If the price manages to secure fresh liquidity from the $0.23 level and subsequently orchestrates a clear and convincing breach above the $0.26 range, it aligns with the rulebook set out by Plancton. This rule suggests that the conditions for a favorable long position have been met, potentially leading to a profitable venture for traders who adhere to this methodology.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
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