USDCHF on the 4h chart has tested the weekly descending trendline and couldn't break above.
The price has tested the 0.618 and the 0.5 fib level retracement and then turned to the minor ascending trendline in yellow
How we can approach this scenario?
We will wait for a break of the counter trendline and check if the bear pressure will push the price below the 4h structure, in that case, we'll consider opening a short position according to the Plancton Academy rules.
--––
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.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
The price has tested the 0.618 and the 0.5 fib level retracement and then turned to the minor ascending trendline in yellow
How we can approach this scenario?
We will wait for a break of the counter trendline and check if the bear pressure will push the price below the 4h structure, in that case, we'll consider opening a short position according to the Plancton Academy rules.
--––
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.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
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