EURUSD Monthly/Weekly/Daily Analysis 🦐
EURUSD on the monthly chart is still moving inside a huge descending channel.
On the weekly chart (lower left) we notice that price after the bullish run found resistance at the 1.19 level, broke below the weekly support at 1.17 for a retracement move, and back above.
The daily chart shows us that price moved in a descending channel before breaking above and start a new move in a counter ascending channel.
The market closed last Friday exactly on the lower trendline of the channel and IF the price will break and close above the 1.17300 area we can look for a nice long position according to Plancton's strategy.
On the other hand, if the price will break and close below the 1.16800 we will look for a short position.
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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.
On the weekly chart (lower left) we notice that price after the bullish run found resistance at the 1.19 level, broke below the weekly support at 1.17 for a retracement move, and back above.
The daily chart shows us that price moved in a descending channel before breaking above and start a new move in a counter ascending channel.
The market closed last Friday exactly on the lower trendline of the channel and IF the price will break and close above the 1.17300 area we can look for a nice long position according to Plancton's strategy.
On the other hand, if the price will break and close below the 1.16800 we will look for a short position.
------
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:
price found resistance exactly at the top of the channel