The price had a breakout from the descending channel and got a rejection from the weekly resistance on the 1.19$.
On the 4h timeframe the price is creating a descending channel on the 0.786 Fibonacci level below the monthly resistance.
How to approach?
The price needs to have a breakout from the channel and monthly resistance, and flip it into new support. According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
On the 4h timeframe the price is creating a descending channel on the 0.786 Fibonacci level below the monthly resistance.
How to approach?
The price needs to have a breakout from the channel and monthly resistance, and flip it into new 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 🦐
