EURUSD on a retracement move 🦐
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EURUSD on the 4h chart bounced perfectly over the weekly support (red) around the 1.11450 area.
The price has been in a long downtrend with consecutive lower lows and lower highs.
How can we approach this scenario?
We can notice a descending channel and 2 resistance structures above the current price.
One of the 2 is a perfect confluence area and we will monitor that point to check if the bulls will have enough strength to break above, in that case we will monitor the price for the application of the Academy rules and set a nice long order.
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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 been in a long downtrend with consecutive lower lows and lower highs.
How can we approach this scenario?
We can notice a descending channel and 2 resistance structures above the current price.
One of the 2 is a perfect confluence area and we will monitor that point to check if the bulls will have enough strength to break above, in that case we will monitor the price for the application of the Academy rules and set a nice long order.
––––
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.
Note
Note
Note
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