The price got a rejection from the 4h resistance and bounced on 0.382 Fibonacci level and the market created an Engulfing candle on it.
the buyers are pushing the price on the 4h resistance.
IF the price is going to have a breakout of 4h resistance we could apply our rules in order to pen a new long position with a very nice risk-reward
–––––
Follow the Shrimp 🦐
Keep in mind.
the buyers are pushing the price on the 4h resistance.
IF the price is going to have a breakout of 4h resistance we could apply our rules in order to pen a new long position with a very nice risk-reward
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <4h structure.