the price created a double bottom on the monthly support on 0.44$ after a ew rejections from the daily dynamic resistance.
On the 4h timeframe, the price is testing the daily resistance on 0.51 at 0.382 Fibonacci level, with nice volume.
How to Approach?
We are monitoring the price, we want to see a clear breakout from the daily resistance and retest it as new support in order to apply ourrules for a new long position.
Next resistance is 0.55$.
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the 4h timeframe, the price is testing the daily resistance on 0.51 at 0.382 Fibonacci level, with nice volume.
How to Approach?
We are monitoring the price, we want to see a clear breakout from the daily resistance and retest it as new support in order to apply ourrules for a new long position.
Next resistance is 0.55$.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Comment:
Bullish if the price is going to have a breakout from the 4h resistance
Comment:
9% so far
Comment:
13% so far so good!
Trade closed: target reached:
80% 🦐
