USDCHF on a symmetrical triangle 🦐
USDCHF on the 4h chart is moving between 2 converging trendlines.
The price after the last test of the upper trendline is retracing lower and possibly today after the NFP we can see a break above.
How can i approach this scenario?
I will wait for a potential break of the dynamic resistance and when that will happen i will look for 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 price after the last test of the upper trendline is retracing lower and possibly today after the NFP we can see a break above.
How can i approach this scenario?
I will wait for a potential break of the dynamic resistance and when that will happen i will look for 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.
Comment:
the market broke the trendline and moved in our direction, as expected
Comment:
clear rejection by the resistance zone
Comment:
consolidation below the resistance area
Comment:
150 pips call and possible break of the resistance
Comment:
Test of the strong resistance
Comment:
perfect test of the 0.5 Fibonacci level