AUDUSD a bearish continuation? 🦐
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AUDUSD on the 4h chart is currently testing a weekly support around the 0.73500 price area.
The price after the recent high at the 0.76500 started a downtrend with lower lows and lower highs that can continue if the break of support will happen.
We can notice how the market after the last bounce over the area retest the 0.382 Fibonacci level and turned again for a new test of the support area.
How can i approach this scenario?
We will wait for the EU market open and for a potential break of structure, in that case, i will check for a nice short order according to the Plancton's academy 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 high at the 0.76500 started a downtrend with lower lows and lower highs that can continue if the break of support will happen.
We can notice how the market after the last bounce over the area retest the 0.382 Fibonacci level and turned again for a new test of the support area.
How can i approach this scenario?
We will wait for the EU market open and for a potential break of structure, in that case, i will check for a nice short order according to the Plancton's academy 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
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