AUDUSD on the 4h chart after the recent high moved lower.
I can see an attempt of the price to break the resistance level at the 0.73800 with the following bear pressure coming in that pushes the price at the 0.618 Fibonacci level.
How can we approach this scenario?
We will wait for the market open and check if the price will break above the resistance area, in that case i ll check for a possible long entry according to the Plancton's 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
I can see an attempt of the price to break the resistance level at the 0.73800 with the following bear pressure coming in that pushes the price at the 0.618 Fibonacci level.
How can we approach this scenario?
We will wait for the market open and check if the price will break above the resistance area, in that case i ll check for a possible long entry according to the Plancton's 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
Note
Note
Note
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.