The price tested the monthly support on 2.7$. That level is so important for SUSHI.
On the 4h timeframe the price is trying to have a breakout from the daily dynamic resistance and from 0.382 Fibonacci level.
How to approach?
I'm monitoring the price, I want to see a breakout from the dynamic resistance and retest of the 4h resistance on 3.1$.
It's not enough to check a breakout, you need to have a strategy, for that reason I will open a long position only after the price is going to satisfy my rules.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the 4h timeframe the price is trying to have a breakout from the daily dynamic resistance and from 0.382 Fibonacci level.
How to approach?
I'm monitoring the price, I want to see a breakout from the dynamic resistance and retest of the 4h resistance on 3.1$.
It's not enough to check a breakout, you need to have a strategy, for that reason I will open a long position only after the price is going to satisfy my rules.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Note
The price is trying to have a breakout 👀Note
The price got a rejection so far
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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.