On the weekly timeframe the price is going to create an huge head and shoulders, and the price needs to hold its neckline as support.
On the 4h timeframe the price had a false breakout from the falling wedge and create a new bearish impulse.
how to approach?
the price could get a new liquidity from the demand zone in order to reverse the local bearish impulse and retest the area where we can find the red candle and the supply zone. 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.
Follow the Shrimp 🦐
Comment:
The price is following my drawing, now the market is trying to grab new liquidity from the support zone for a pullback until the previous supply zone.
