EURUSD on the 4h chart tested the weekly resistance at the 1.11500 with a spike after the recent low.
The price seems to lose again the bullish momentum and I can expect a new bearish leg if the pair will confirm its weakness during the eu market session.
How can we approach this scenario?
I will wait for the break below the support area and if the condition will be satisfied we will set a nice short order according to the Plancton's Academy 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 seems to lose again the bullish momentum and I can expect a new bearish leg if the pair will confirm its weakness during the eu market session.
How can we approach this scenario?
I will wait for the break below the support area and if the condition will be satisfied we will set a nice short order according to the Plancton's Academy 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 support rejected the break but we can still be looking for short if the price will provide a confirmation
