wait for the candle to close above the structure or neckline, wait for the pullback
The Bottom Line
Head and shoulders patterns occur on all time frames and can be seen visually. While subjective at times, the complete pattern provides entries, stops, and profit targets, making it easy to implement a trading strategy. The pattern is composed of a left shoulder,...
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AUDSGD has reached the weekly support at the 1.0100.
According to Plancton's strategy if the market will break below we can set a nice short order for a continuation of the descending channel trend.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
•...
Hello there!
If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
And if you would like to show further support for me, you can gift me some coins on tradingview! 😁
Thank you!
Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice...
Support and resistance are the zones from where most of the sellers/buyers are willing to place their orders. for example, a round number 1.30000 will also act as an S&R zone due to psychological level.
price bounces from support and resistance zones many times and it always remains valid. More bounces mean a stronger zone.
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Whereas the supply and demand zone...
If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
And if you would like to show further support for me, you can gift me some coins on tradingview! 😁
Thank you!
Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for...
AUDSGD on the 4h chart has tested the support at the 1.02 level.
The price bounces over the descending channel trendline and we can expect a test of the resistance at 1.025.
According to plancton's strategy if the market will provide us a sign of inversion we will set a nice short order according to Plancton's stratgey.
–––––
Follow the Shrimp 🦐
Keep in mind.
•...
Trading suggestion:
. There is still a possibility of temporary retracement to the suggested resistance line (1.0399).
if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDSGD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
Trading suggestion:
. There is still a possibility of temporary retracement to the suggested resistance line (1.0399).
if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDSGD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
