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Euro / Swiss Franc

EURCHF a short term long opportunity 🦐

By InkyGrip
Updated
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.
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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.
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snapshot 90 pips and test of the supply area
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snapshot 190 pips call
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snapshot test of the supply area and 2% profit so far
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snapshot rejection by the supply zone
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snapshot classic retest of the 0.5 Fibonacci support
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snapshot

Test of the 0.382 and possible continuation move
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snapshot retest of the 0.382 level
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snapshot looking for a new test of the supply area
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snapshot 188 pips call and double top over the supply zone
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snapshot perfect retest
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snapshot the price broke above the resistance
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snapshot new recent high
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snapshot perfect bullish call
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snapshot new recent high in a choppy uptrend
240minchfEUREURCHFTrend Analysis
InkyGrip

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