NZDUSD on an ascending channel 🦐
Updated
NZDUSD on the 4h chart is trading at the top of a bullish trend inside an ascending channel.
The price after the recent impulse got rejected by the daily resistance and is now moving to the lower trendline.
I expect the price to reach the confluence zone between the weekly support and the trendline before the end of this week and i will monitor the price action around that level.
How can i approach this scenario?
If the price will carry on the retracement move I will wait for the break of the confluence zone and after that, i will check for a short opportunity and set a sell 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.
The price after the recent impulse got rejected by the daily resistance and is now moving to the lower trendline.
I expect the price to reach the confluence zone between the weekly support and the trendline before the end of this week and i will monitor the price action around that level.
How can i approach this scenario?
If the price will carry on the retracement move I will wait for the break of the confluence zone and after that, i will check for a short opportunity and set a sell 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.
Comment
The market is now testing a minor support, i d like to see a break of the lower confluence area
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