DOTUSDT is trying to have a breakout
Updated
The price had a breakout from the daily descending channel after a retest of the Monthly support on 14$.
On the 4h timeframe, the price is creating a pennant and now it's trying to have a breakout from it.
The price got a first rejection from the 4h resistance on 19$
How to approach?
We are monitoring the price and we are waiting for our rules. the market could get more liquidity from the previous resistance now new support. The market needs to have a breakout from the 19$, be careful about the daily resistance on 20$. IF the price is going to satisfy all our rules, we could open a new long position with a very nice risk reward.
–––––
Follow the Shrimp 🦐
Keep in mind.
On the 4h timeframe, the price is creating a pennant and now it's trying to have a breakout from it.
The price got a first rejection from the 4h resistance on 19$
How to approach?
We are monitoring the price and we are waiting for our rules. the market could get more liquidity from the previous resistance now new support. The market needs to have a breakout from the 19$, be careful about the daily resistance on 20$. IF the price is going to satisfy all our rules, we could open a new long position with a very nice risk reward.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Comment
The price is retesting the pennant as expectedLet's see!
Comment
Consolidation below the 4h resistance.Wait for the breakout!
Comment
The price needs to break the resistance for the bullish scenario. 20 (the daily resistance) is the key level.Comment
Comment
the price is following my drawing
Comment
a breakout is not enough, you need to have a strategy, for that reason we are following the Plancton's rules! 🦐Comment
The price is following my drawing Comment
A perfect trade, The price had a breakout as expected and printed 7% Comment
The price is following my drawing!10% so far after breakout as I told you
Comment
So Far So Good! 10% 👑Comment
21% so far!Comment
23% since my ideaRelated 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.