ALGOUSDT is testing the monthly area
The price is testing a key monthly level of 0.68$ where the price bounced several times. Check the upper chart, the price respected that area.
on the lower timeframe (4H) the price had a false breakout from that area.
How to approach?
If the price is going to confirm the breakout from the monthly support, According to Plancton's strategy, we can set a nice order
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Keep in mind.
Follow the Shrimp 🦐
on the lower timeframe (4H) the price had a false breakout from that area.
How to approach?
If the price is going to confirm the breakout from the monthly support, According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Follow the Shrimp 🦐
If the price is going to have a breakout and satisfy our rules, we could open a new Short Position.
Be careful with the false breakout