EURUSD on the 4h chart is moving into a correction phase inside a slightly ascending channel.
The price bounced over the lower dynamic support a few times in a choppy trading form and then peaked with a test of the upper trendline at the 1.14800 level.
How can we approach this scenario?
We can notice the test of the 0.382 Fibonacci level over the daily support (blue one) which can makes us think for a bearish continuation on the 4h timeframe.
In this case, we will wait for a break of the support area between the upper trendline and the weekly support (red structure to set a nice short order according to 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 price bounced over the lower dynamic support a few times in a choppy trading form and then peaked with a test of the upper trendline at the 1.14800 level.
How can we approach this scenario?
We can notice the test of the 0.382 Fibonacci level over the daily support (blue one) which can makes us think for a bearish continuation on the 4h timeframe.
In this case, we will wait for a break of the support area between the upper trendline and the weekly support (red structure to set a nice short order according to 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:
the price is pushing for a break below
Comment:
breaking below
Comment:
as expected
