The price had a breakout from the descending channel on the daily timeframe after a bounce on the weekly support on 0.91$.
On the lower timeframe (4h) the price is creating a pennant below the monthly resistance and above the 4h support. the market printed a false breakout from the pennant and monthly structure.
How to approach?
We are monitoring the price, we are waiting for the breakout from the pennant with volume. IF the price is going to have a breakout and retest monthly resistance as new support, According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
On the lower timeframe (4h) the price is creating a pennant below the monthly resistance and above the 4h support. the market printed a false breakout from the pennant and monthly structure.
How to approach?
We are monitoring the price, we are waiting for the breakout from the pennant with volume. IF the price is going to have a breakout and retest monthly resistance as new support, According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
Note
the price is trying to have a breakoutNote
The price needs to flip the monthly resistance for a bullish scenarioNote
the price needs to have a breakout from the monthly resistance!
Note
The price is testing the monthly resistance on 1.12$. The price needs to flip it with volume and retest!Note
Keep calm, the price needs to create a breakout from the monthly resistanceNote
Bang!20% since my call!
Note
36% after my call 😎
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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.