NZDUSD on the 4h chart reached the monthly support area after a long bearish impulse.
The price tested the structure and bounced over it, starting a retracement to the upside.
How can i approach this scenario?
I will wait for the EU market open and the potential break of the minor structure area, in that case, i will search for a nice long entry 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.
The price tested the structure and bounced over it, starting a retracement to the upside.
How can i approach this scenario?
I will wait for the EU market open and the potential break of the minor structure area, in that case, i will search for a nice long entry 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.
์ฝ๋ฉํธ:
the price broke above the structure as expected
์ฝ๋ฉํธ:
perfect break and retest
์ฝ๋ฉํธ:
after a last retest the price is now moving higher
์ฝ๋ฉํธ:
moving to the upside as expected
์ฝ๋ฉํธ:
the market moved to the monthly resistance as expected
์ฝ๋ฉํธ:
test of the monthly resistance
์ฝ๋ฉํธ:
resistance rejection
์ฝ๋ฉํธ:
a 193 pips call
์ฝ๋ฉํธ:
the price moves higher
์ฝ๋ฉํธ:
the market tested the 0.65600 and starts a retracement move
์ฝ๋ฉํธ:
break and retest of the support area
์ฝ๋ฉํธ:
possible bull flag continuation
์ฝ๋ฉํธ:
ascending channel formation