SP500 on the daily chart after the recent high tested the descending trendline at the 0.618 Fibonacci level and started a retracement move to the 0.5.
The price is now moving over a daily support and a possible break can happen.
How can i approach this scenario?
I will wait for the US market open and if the market will break and close below i will consider a nice short order according to the Plancton's strategy rules.
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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 is now moving over a daily support and a possible break can happen.
How can i approach this scenario?
I will wait for the US market open and if the market will break and close below i will consider a nice short order according to the Plancton's strategy 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.