The price is creating a descending channel on the daily timeframe.
On 4h timeframe the price created a bearflag between the weekly structures, and after the breakout down, the market retested the previous support as new resistance.
how to approach?
If the price is going to have a breakdown from the weekly support, we can add in our watchlist and wait for apply our rules,
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Follow the Shrimp 🦐
Keep in mind.
On 4h timeframe the price created a bearflag between the weekly structures, and after the breakout down, the market retested the previous support as new resistance.
how to approach?
If the price is going to have a breakdown from the weekly support, we can add in our watchlist and wait for apply our rules,
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.