SP500 after our previous analysis is trading above a support area.
The price created a downtrend double top which is a bearish sign and tested the 0.618 and the 0.5 Fibonacci levels.
How can i approach this scenario?
If the price during the daily session will break below the support area we will consider a nice short position 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 created a downtrend double top which is a bearish sign and tested the 0.618 and the 0.5 Fibonacci levels.
How can i approach this scenario?
If the price during the daily session will break below the support area we will consider a nice short position 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:
possible bear flag
