NZDUSD on the 4h chart is trading at the top of a bullish trend inside an ascending channel.
The price after the recent impulse got rejected by the daily resistance and is now moving to the lower trendline.
I expect the price to reach the confluence zone between the weekly support and the trendline before the end of this week and i will monitor the price action around that level.
How can i approach this scenario?
If the price will carry on the retracement move I will wait for the break of the confluence zone and after that, i will check for a short opportunity and set a sell order according to the Plancton's strategy rules.
โโโ
Follow the Shrimp ๐ฆ
Keep in mind.
๐ฃ Purple structure -> Monthly structure.
๐ด Red structure -> Weekly structure.
๐ต Blue structure -> Daily structure.
๐ก Yellow structure -> 4h structure.
โซ๏ธ 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.