The price is testing the daily support on 1.3 inside a falling wedge after a rejection from the 4h resistance. Daily support is a key level.
On the bigger picture, we can spot a demand zone above the weekly support on 1.176$
How to approach?
the price could have a pullback until the previous 4h support now resistance on the dynamic resistance as well. If the price is going to have a rejection, we could see a new bearish impulse until the weekly support. The scenario is going to invalidate if the price is going to have a clear breakout above 1.4
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Follow the Shrimp 🦐
Keep in mind.
On the bigger picture, we can spot a demand zone above the weekly support on 1.176$
How to approach?
the price could have a pullback until the previous 4h support now resistance on the dynamic resistance as well. If the price is going to have a rejection, we could see a new bearish impulse until the weekly support. The scenario is going to invalidate if the price is going to have a clear breakout above 1.4
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
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