the price created a double bottom on the weekly support (the red one) on the 0.5 Fibonacci level.
After the breakout, retested the previous resistance as new support (on 4h timeframe)
The price got a rejection from the daily resistance and 4h dynamic resistance.
How to approach?
IF the price is going to have a breakout from the dynamic resistance and daily resistance with volume, we can add in our watchlist and wait to apply our rules in order to find a new long opportunity.
–––––
Follow the Shrimp 🦐
Keep in mind.
After the breakout, retested the previous resistance as new support (on 4h timeframe)
The price got a rejection from the daily resistance and 4h dynamic resistance.
How to approach?
IF the price is going to have a breakout from the dynamic resistance and daily resistance with volume, we can add in our watchlist and wait to apply our rules in order to find a new long opportunity.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Note
Sometimes no loss is like a profit.the price didn't trigger our strategies, the market needs to satisfy our rules before a new position.
the price got a rejection from the daily resistance and now it's testing again the weekly support.
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.
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.