The market anyway didnt create new lows before the retracement.
Price now is approaching the monthly discending trendline and we can expect 2 different scenarios.
On the weekly chart the price could break above the trendline (purple) and consequently the weekly .
In that case at the retest of it we will check for a long position according with our strategy.
We can also see that the market never went to look for a retracement in almost 8 weeks
In that case if the market will break below the weekly support we can set a short order looking for a retracement till at least the 0.382 of the previous leg.
Follow the Shrimp 🦐
Here is the Plancton0618 , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.