The price is testing a key monthly level of 0.68$ where the price bounced several times. Check the upper chart, the price respected that area.
on the lower timeframe (4H) the price had a false breakout from that area.
How to approach?
If the price is going to confirm the breakout from the monthly 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 had a false breakout from that area.
How to approach?
If the price is going to confirm the breakout from the monthly 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 fighting with the monthly support.If the price is going to have a breakout and satisfy our rules, we could open a new Short Position.
Be careful with the false breakout
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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.
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.