Updated

EURCHF a short term long opportunity 🦐

EURCHF on the 4h chart is trading in a downtrend for a long time.
The price has been moving between 2 parallel descending trendlines and is currently breaking above the upper one.

How can i approach this scenario?

The overall scenario remain bearish but if the market will break above the static resistance structure i can look for a short-term 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.

Note

90 pips and test of the supply area

Note

190 pips call

Note

test of the supply area and 2% profit so far

Note

rejection by the supply zone

Note

classic retest of the 0.5 Fibonacci support

Note

Test of the 0.382 and possible continuation move

Note

retest of the 0.382 level

Note

looking for a new test of the supply area

Note

188 pips call and double top over the supply zone

Note

perfect retest

Note

the price broke above the resistance

Note

new recent high

Note

perfect bullish call

Note

new recent high in a choppy uptrend

InkyGrip

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.

InkyGrip