SP500 on the 4h chart after the accumulation phase break to the upside the range and retest the previous resistance now turned support.
The market started a series of higher highs, higher lows and broke the daily resistance to the upside.
Following the last bullish move the price retraced to the 50% of the previous move and is now trading below a minor resistance.
How can i approach this scenario?
I will wait for the EU market open and IF the price will break above i will consider a nice long order according to the Plancton's strategy 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 market started a series of higher highs, higher lows and broke the daily resistance to the upside.
Following the last bullish move the price retraced to the 50% of the previous move and is now trading below a minor resistance.
How can i approach this scenario?
I will wait for the EU market open and IF the price will break above i will consider a nice long order 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.