GALAUSDT is testing the 0.786 Fibonacci level
The price is testing the 0.786 Fibonacci level on the daily timeframe after a breakout from the falling wedge and a rejection from the daily resistance on 0.4$
On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$
How to approach?
IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy, we can set a nice order. The setup will be invalid above 0.3$
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Keep in mind.
Follow the Shrimp 🦐
On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$
How to approach?
IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy, we can set a nice order. The setup will be invalid above 0.3$
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Follow the Shrimp 🦐
So far So Good, the price is losing the support and we made more than 8% since my free call.
If the price is going to get another rejection, the next valid support is 0.12$