The price is creating a falling wedge on the daily timeframe, after a bounce on the weekly support.
On the lower timeframe, we can see that market had a breakdown from 4h support now new resistance
How we can trade this scenario?
I'd like to see a breakout from the falling wedge and 4h resistance with volume, Wait for a successfully flip of 4h resistance into new support.
If that WILL BE THE case we ARE GOING TO apply our Plancton's rules and look for a new long position.
Beware of weekly resistance (red one) because the price could get a rejection.
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Follow the Shrimp 🦐
Keep in mind.
On the lower timeframe, we can see that market had a breakdown from 4h support now new resistance
How we can trade this scenario?
I'd like to see a breakout from the falling wedge and 4h resistance with volume, Wait for a successfully flip of 4h resistance into new support.
If that WILL BE THE case we ARE GOING TO apply our Plancton's rules and look for a new long position.
Beware of weekly resistance (red one) because the price could get a rejection.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.