The price had a breakout from the daily dynamic resistance and now the market is trying to have a breakout from the weekly resistance.
On the daily timeframe, we can see an inverse head and shoulders and the price creates its neckline on the weekly
How to approach?
We are monitoring the price action, we made more than 11% since the previous idea.
Now I'd like to see a breakout from the neck line with volume, 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 daily timeframe, we can see an inverse head and shoulders and the price creates its neckline on the weekly
How to approach?
We are monitoring the price action, we made more than 11% since the previous idea.
Now I'd like to see a breakout from the neck line with volume, 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 weekly resistance and we could see a retracement until the 0.618 Fibonacci level before a new bullish impulse.
Don't miss the breakout!
Note
The setup is still validNote
The price is creating a Megaphone. A megaphone pattern is a pattern that consists of a minimum of two higher highs and two lower lows.We are waiting for a breakout from the weekly resistance.
don't miss it!
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.
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.