DOW on a potential H&S pattern 🦐
DJI on the 4h chart is trading near to a daily support.
The price after the recent top creates a right shoulder and is testing the neckline area with a possible bear flag formation.
How can i approach this scenario?
I will wait fro the EU market open and if the price will break below the support area i will check for 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 after the recent top creates a right shoulder and is testing the neckline area with a possible bear flag formation.
How can i approach this scenario?
I will wait fro the EU market open and if the price will break below the support area i will check for 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.
Comment:
The price is still testing the support area, a break below the structure will be needed to consider a short
