AUDUSD on the daily chart after hitting the 0.73600 area at the weekly resistance, retraced back until the 0.382 Fibonacci level.
The price after creating a double bottom over the weekly support started a new impulse to the upside until the weekly resistance area and close to the descending trendline of the channel.
Being the end of the month and near to a strong resistance we have 2 possible scenarios:
IF the price will break and close a daily candle above the structure and consequently breaks the channel we will set a nice long order.
IF the market instead will turn we will wait and check the market reaction at the daily support at the 0.72350.
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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 after creating a double bottom over the weekly support started a new impulse to the upside until the weekly resistance area and close to the descending trendline of the channel.
Being the end of the month and near to a strong resistance we have 2 possible scenarios:
IF the price will break and close a daily candle above the structure and consequently breaks the channel we will set a nice long order.
IF the market instead will turn we will wait and check the market reaction at the daily support at the 0.72350.
–––––
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.