SP500 on the 4h chart can provide us a short opportunity during the beginning of the trading week. The price couldn't make new highs and create a lower low lower high move with a test of the 0.5 Fibonacci level after the last support test at the4460 level.
How can we approach this scenario?
We will wait for the European market open and look for a possible break of the support zone . In that case, I will search for the application of Plancton's strategy rules to set a nice short order. –––– Follow the Shrimp 🦐
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 is testing the support area, waiting for a break
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after the expected lower low the price is retracing to the upside
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break retest and now waiting for the lower below the structure
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after another test of the resistance the price is now ready to move lower