The price is testing the 0.786 Fibonacci level on the daily timeframe after a breakout from the falling wedge and a rejection from the daily resistance on 0.4$
On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$
How to approach?
IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy, we can set a nice order. The setup will be invalid above 0.3$
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Keep in mind.
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Follow the Shrimp 🦐
On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$
How to approach?
IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy, we can set a nice order. The setup will be invalid above 0.3$
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
Note
So far So Good, the price is losing the support and we made more than 8% since my free call.
If the price is going to get another rejection, the next valid support is 0.12$
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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.