The price is testing the weekly dynamic support after a breakout from the daily structures on 0.125$. The market is trying to have a bounce from that support and retest the previous support as new resistance.
How to approach?
We are monitoring the price, We will wait for a bounce and we will apply our rules for a new short position. The next valid support is 0.088. the scenario is invalidated if the price is going to have a breakout 0.14$
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
How to approach?
We are monitoring the price, We will wait for a bounce and we will apply our rules for a new short position. The next valid support is 0.088. the scenario is invalidated if the price is going to have a breakout 0.14$
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
IF the price is going to lose the support, according to Plancton's rules, we can look for a new short position