EURUSD on the 4h chart after yesterday's rejection by the confluence zone between the daily support and the ascending trendline started a new move to the upside.
There is still uncertainty in the market and any news can affect with higher volatility the price but, at this stage, the price is testing a minor resistance and possibly we can see a test of the higher weekly resistance.
I can notice how the 0.5 Fibonacci level is exactly at the daily support and also ho the price started a range between the 2 struvtures.
How can i approach this scenario?
I will wait for the break and close above the structure and in that case i will check if the price satisfy the Plancton's academy rules to set a nice long order.
––––
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.
There is still uncertainty in the market and any news can affect with higher volatility the price but, at this stage, the price is testing a minor resistance and possibly we can see a test of the higher weekly resistance.
I can notice how the 0.5 Fibonacci level is exactly at the daily support and also ho the price started a range between the 2 struvtures.
How can i approach this scenario?
I will wait for the break and close above the structure and in that case i will check if the price satisfy the Plancton's academy rules to set a nice long order.
––––
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.
Commento:
resistance rejection we will monitor it next week
