The price had a breakout from the descending channel on the daily timeframe and got a rejection from the daily resistance on 0.0035.
on the 4h Timeframe the price is testing the 0.886 Fibonacci level on the daily support.
how to approach?
The price is creating a descending channel on the 4h timeframe and it's testing the daily support as I said above, so, If the price is going to have a breakout from the descending channel and flip the 4h resistance to the new support, we could see a pullback until the weekly resistance around d0.003 if our rules are going to satisfy
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
on the 4h Timeframe the price is testing the 0.886 Fibonacci level on the daily support.
how to approach?
The price is creating a descending channel on the 4h timeframe and it's testing the daily support as I said above, so, If the price is going to have a breakout from the descending channel and flip the 4h resistance to the new support, we could see a pullback until the weekly resistance around d0.003 if our rules are going to satisfy
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Comment:
A perfect bounce on the daily support as I told you. Now I want to see a clear breakout
Comment:
The price had a breakout as I told you, now the market needs to confirm the new support
Comment:
15% since my idea
