The price got a rejection from the static 4h resistance and dynamic daily resistance on 0.8$ and now the market is testing the 4h support on 0.62$.
The market is creating an M pattern and the price got a local rejection from the 0.618 Fibonacci level, exactly on the daily resistance.
How to approach it?
The price wants to retest the 0.886 Fibonacci level on 0.56 Area in order to grab new liquidity to try the reverse trade. So if the price is going to lose the 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 🦐
The market is creating an M pattern and the price got a local rejection from the 0.618 Fibonacci level, exactly on the daily resistance.
How to approach it?
The price wants to retest the 0.886 Fibonacci level on 0.56 Area in order to grab new liquidity to try the reverse trade. So if the price is going to lose the 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.
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Follow the Shrimp 🦐
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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.