SPX500 after the ATH creates a double top and moved lower over a daily support.
The long wick on the candles show us a fight between bulls and bears where bulls are trying to keep the prices above the ascending trendline.
My personal perception is that we can expect during this week some bearish price action that needs to be confirmed with a break below the support.
We will approach a possible short trade on the 4h timeframe by waiting for a confirmation of the break and close below the support area + the Plancton 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 long wick on the candles show us a fight between bulls and bears where bulls are trying to keep the prices above the ascending trendline.
My personal perception is that we can expect during this week some bearish price action that needs to be confirmed with a break below the support.
We will approach a possible short trade on the 4h timeframe by waiting for a confirmation of the break and close below the support area + the Plancton 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:
price is still trading above the support
Comment:
break and continuation to the support area
Comment:
The market moved lower with a nice call
Comment:
perfect short call at the top of the trend
Comment:
sell off