The price created a double top on the monthly timeframe and had a breakout from the weekly support.
On the 4h timeframe, the price is having a breakout from the dynamic support and the price is going to retest again the daily and 4h support on 37600.
How to approach?
IF the price is going to have a breakout from the support and retest as new resistance, 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 tested the 4h support on 38200 and now the market is testing again the dynamic resistance.the price bounced exactly on the daily support and dynamic 4h support on 37160.
Bearish if the price is going to lose the daily support
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.
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.