the price is testing the 0.618 Fibonacci level as new resistance after a breakout from the ascending channel
How to approach it?
IF the price is going to lose the support and retest as new resistance, According to Plancton's strategy, we can set a nice order
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Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ black structure -> <= 1h structure.
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Follow the Shrimp 🦐
Note
The price had a breakout from the dynamic support and now it's testing the static one.We are waiting for the breakout
Note
The price is still testing the support.If the price is going to lose it we could see a new bearish impulse
Note
The price is creating bear flag
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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.