EURUSD on the 4h timeframe gor rejected by the daily resistance where the market created a double top.
The price starts the retracement and perfectly tested the 0.5 Fibonacci level before moving to the 1.136 level.
How can we approach this scenario?
We will monitor the price action and check if there will be a break of the resistance area that could give us a confirmation of the continuation to the upside.
If the price will break above the daily resistance check for the application of the Plancton Academy to 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.
The price starts the retracement and perfectly tested the 0.5 Fibonacci level before moving to the 1.136 level.
How can we approach this scenario?
We will monitor the price action and check if there will be a break of the resistance area that could give us a confirmation of the continuation to the upside.
If the price will break above the daily resistance check for the application of the Plancton Academy to 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.
Comment:
testing the resistance area
Comment:
we adjust tghe resistance area and look for a break of it to the upper direction