SP500 is at the historical high and currently broke and retest the 3445 previous weekly resistance now turned support.
After the last bullish impulse, the price never retraced back even to the 0.382.
We can notice from the chart how the 0.5 and 0.618 levels were already important levels in the market.
IF the price will break below the weekly support and consequently break the ema we will look for a test of the 0.5 or possibly of the 0.618 and from there we will wait for a sign of inversion for new bullish opportunities.-
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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.
After the last bullish impulse, the price never retraced back even to the 0.382.
We can notice from the chart how the 0.5 and 0.618 levels were already important levels in the market.
IF the price will break below the weekly support and consequently break the ema we will look for a test of the 0.5 or possibly of the 0.618 and from there we will wait for a sign of inversion for new bullish opportunities.-
–––––
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.