SPX500USD on the 4h chart is trading above a support area .
The price after a recent test of the 0.5 Fibonacci area seems to have the strength to close the trading week below the 4100 area and look for the 4000 zone.
How can i approach this scenario?
I will wait for a potential break of the structure and in that case, i will search for a nice short order according to Plancton's strategy rules.
Careful traders, being Friday might be tricky to enter in a trade in the late session.
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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 after a recent test of the 0.5 Fibonacci area seems to have the strength to close the trading week below the 4100 area and look for the 4000 zone.
How can i approach this scenario?
I will wait for a potential break of the structure and in that case, i will search for a nice short order according to Plancton's strategy rules.
Careful traders, being Friday might be tricky to enter in a trade in the late session.
––––
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.
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new lower low
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an almost 10% profit and perfect test of the descending trendline
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lower low for a 11.5% profit
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the price is back above the descending trendline for the weekly closure
