SPX500USD dropping to the previous low 🦐
Updated
SP500 on the 4h chart can provide us a short opportunity during the beginning of the trading week.
The price creates a perfect retracement to the 0.618 Fibonacci level and is now testing a daily confluence area.
How can we approach this scenario?
We will wait for the European market open and look for a possible break of the support zone.
In that case, I will search for the application of Plancton's strategy rules to set a nice short order.
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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 creates a perfect retracement to the 0.618 Fibonacci level and is now testing a daily confluence area.
How can we approach this scenario?
We will wait for the European market open and look for a possible break of the support zone.
In that case, I will search for the application of Plancton's strategy rules to set a nice short order.
––––
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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After a test of the 4300 level exactly at the 0.382 the market is possibly creating a lower low Related publications
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