EURCHF on the 4h chart is trading below a minor resistance area.
The price after 2 test of the area retraced over the lower descending trendline and bounced for a new test of the structure.
How can i approach this scenario?
Being Friday is quite risky to trade in the late sessions but if the market will break above the resistance area i will consider a nice long position according to the Plancton's strategy rule.
--––
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 2 test of the area retraced over the lower descending trendline and bounced for a new test of the structure.
How can i approach this scenario?
Being Friday is quite risky to trade in the late sessions but if the market will break above the resistance area i will consider a nice long position according to the Plancton's strategy rule.
--––
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.
Comment:
the market is breaking above, as expected
Comment:
break retest and price reached exactly the trendlne
Comment:
the price moves in the expected direction for a nice 163 pips call
Comment:
test of the resistance and possible bull flag formation
