ARBUSDT wants to retest the supply zone. it appears that ARBUSDT is showing signs of wanting to retest the supply zone. According to Plancton's rules, a potential new long position may be considered based on this retest.
A supply zone is an area on the price chart where selling pressure is expected to be significant, potentially leading to a pause or reversal in price movement. In the context of ARBUSDT, the supply zone indicates a region where there is a cluster of sell orders or a concentration of sellers.
If ARBUSDT is exhibiting signs of retesting the supply zone, it suggests that the price is approaching this area again, potentially after a prior rejection or consolidation. Traders following Plancton's rules would closely monitor this retest, as it could provide an opportunity for a new long position.
According to Plancton's rules, a new long position would be considered if the price manages to break out convincingly from the supply zone. This breakout would indicate a potential shift in market sentiment, with buyers overcoming the selling pressure in the zone.
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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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