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.
––– 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.
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the price broke above the structure as expected
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perfect break and retest
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after a last retest the price is now moving higher
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moving to the upside as expected
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the market moved to the monthly resistance as expected
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test of the monthly resistance
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resistance rejection
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a 193 pips call
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the price moves higher
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the market tested the 0.65600 and starts a retracement move