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240min

GOLD on a potential correction 🦐Gold is currently in a bullish trend, as evidenced by the ascending megaphone pattern on the 4-hour chart. The ascending megaphone is a bullish continuation pattern that occurs when prices are making higher highs and higher lows, and is characterized by converging trendlines that form a megaphone shape. The upper and lower trendlines of the megaphone can be used to identify key levels of support and resistance. The upper trendline represents the resistance level, and the lower trendline represents the support level. The confluence point, where these two trendlines intersect, is a crucial level to watch. If the price of Gold breaks below the lower trendline and the confluence point, it could indicate a potential correction sell opportunity. A break below the confluence point could trigger a short-term downward price move, as the bulls may take profits and the bears may enter the market. This could provide a good opportunity for short-term traders to enter the market with a sell position, with a stop loss placed above the confluence point. In conclusion, while the overall trend for Gold remains bullish, traders should keep an eye on the lower confluence point and be ready to take advantage of any potential correction sell opportunity that may arise from a break below this level.
OANDA:XAUUSD
by InkyGrip
4
AUDNZD on an ascending triangle 🦐An ascending triangle pattern in the AUD/NZD currency pair on a 4-hour chart suggests that the market sentiment is bullish, with the price creating higher lows while being contained by a horizontal resistance. This pattern can be considered a continuation pattern, implying that the upward trend may continue if the resistance is successfully broken. In this scenario, a long order could be considered according to the Plancton's strategy rules if the price breaks above the resistance level, signaling a potential uptrend. An ascending triangle is a technical chart pattern that occurs in an uptrending market and is considered a bullish continuation pattern. It is characterized by a flat upper resistance level and a series of higher lows that form a diagonal support line. The pattern forms when buyers attempt to push the price higher but are met with resistance from sellers, causing the price to consolidate at the same level. As time passes, the support line moves higher, reflecting an increasing willingness among buyers to pay higher prices for the asset. If the price breaks above the flat resistance level, it can be considered a signal of continued bullish sentiment and a potential uptrend.
by InkyGrip
6
GBPUSD a short opportunity 🦐In technical analysis, a distribution block is often viewed as a sign that the market is losing steam after a strong bullish trend. This can be an indication that the market is starting to correct itself, and that the trend may be reversing. In the case of GBP/USD on the 4 hour timeframe, the price breaks below the distribution block and If then will retests the previous support, which has now become resistance, it could be a sign to consider a short order according to Plancton's strategy. This is because the retest of the former support level at a lower price could indicate that the market is not able to sustain its previous bullish trend and that the bears are now in control.
by InkyGrip
16
DOW on a bullish price action 🦐The Dow Jones Index is currently facing resistance at the 34,200 level, and the recent speech by Federal Reserve Chairman Jerome Powell has created a bullish sentiment in the market. The trendline for the index appears to be ascending and if the index were to break above the 34,200 resistance level, it could signal a buying opportunity for investors according to Plancton’s strategy. The market's reaction to Powell's speech and the potential for a break above the resistance level are important factors for traders to consider in their decision-making.
FOREXCOM:US30
by InkyGrip
3
EURUSD on a retracement move 🦐 - UPDATE -The EUR/USD currency pair was in an upward trend and moving in an ascending channel on the chart. At the top of the trend, the market grabbed liquidity at the 1.1000 level. This sudden and sharp movement to the upside could signal a potential trend reversal and traders should be cautious. The break of the key support level at 1.1000 lead to further declines and a test of the 1.0800 level before the EU market open. The price breaks below the key support level at 1.08000 and this indicate further downward momentum and traders can consider a short selling opportunity, before entering a short trade, traders should closely monitor the price action near the support level and look for confirmation from The plancton's strategy rules.
by InkyGrip
2
USDCHF looking up 🦐USDCHF on the 4h chart creates a series of lower low lower high inside a descending channel. After the test of the support level at the 0.91 zone the market create an impulse to the upside and is currently testing the previous higher low at a confluence zone. If the market is able to successfully break above the confluence zone, it could signal that the upward momentum is strong, and that the market is likely to continue moving higher. In this scenario, a trader could enter a long order when the market breaks above the confluence zone according to the Plancton's strategy rules, with the expectation that the upward trend will continue.
by InkyGrip
2
EURUSD on a retracement move 🦐The EUR/USD currency pair was in an upward trend and moving in an ascending channel on the chart. At the top of the trend, the market grabbed liquidity at the 1.1000 level. This sudden and sharp movement to the upside could signal a potential trend reversal and traders should be cautious. The break of the key support level at 1.1000 lead to further declines and a test of the 1.0800 level before the EU market open. If the price breaks below the key support level at 1.08000, it would indicate further downward momentum and traders can consider a short selling opportunity, before entering a short trade, traders should closely monitor the price action near the support level and look for confirmation from The plancton's strategy rules.
by InkyGrip
1
GBPJPY a test of the 50% Fibonacci level 🦐The GBP/JPY currency pair, on the 4-hour timeframe, is currently trading within a range between the recent low and the daily 50% Fibonacci level. The market saw a drop from its previous high, but it has now stabilized within this range. This range-bound behavior can indicate indecision among market participants and a potential lack of clear direction. Traders may be watching key technical levels, such as the 50% Fibonacci level and the recent low, for signs of a potential break out. The price is also testing the 50% of the range and in the event of a break above the 50% Fibonacci level, it could indicate bullish momentum and a potential rise in price. On the other hand, according to Plancton's strategy a break below the recent low could signal bearish momentum and a potential decrease in price.
by InkyGrip
2
EURUSD can move higher? 🦐EURUSD on the 4h chart is trading within a monthly resistance. The price after a distribution phase tested the lower demand and created a strong impulse on Monday. Currently the market is trading at the recent high below a minor 4h resistance. How can i approach this scenario? According to Plancton's strategy IF the price will break above we can set a nice long 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.
by InkyGrip
20
AUDUSD a turn at the 0.886 Fibonacci 🦐The price is creating a series of higher highs and higher lows is to consider buying on pullbacks to key levels of support. Specifically, if the price is showing a strong uptrend by creating higher highs and higher lows, traders may look to buy when the price pulls back to an area of previous resistance that has now been flipped to support. In this scenario is to consider buying after the market tests the 0.886 Fibonacci level and creates a new high. The 0.886 Fibonacci level is a key level of resistance and if the market is able to turn at this level, it can be seen as a strong bullish signal. Traders may look for confirmation of a new uptrend by watching for a bullish candle or price pattern to form after the test of this level. A good strategy in this scenario would be to wait for a retracement before considering a continuation of the uptrend. After the market tests the 0.886 Fibonacci level and creates a new high, traders may look for a pullback or retracement in the market before entering a trade. This will give traders an opportunity to enter the market at a better price and also provide a better risk-reward ratio. Traders can use Fibonacci retracement levels such as the 0.382 or 0.50 to identify potential levels of support where the market may retrace to.
by InkyGrip
2
GBPUSD can move higher? 🦐GBP/USD currency pair on the 4-hour timeframe see the formation of higher highs and higher lows, followed by a distribution pattern at the recent high. This could indicate that the uptrend is still intact and that the market is undergoing a period of consolidation before potentially continuing its upward movement. It appears that the pair is currently trading within a range between the recent highs and the 0.618 Fibonacci level, which is considered a key support level. The presence of daily support also suggests that there is a potential for the price to hold at these levels and continue to trade within the established range. Technical analysis suggests that traders watch for a break above the recent highs according to Plancton's strategy to confirm the continuation of the bullish trend.
by InkyGrip
4
GBPUSD on a bullish price action 🦐GBP/USD has been in a bullish trend on the 4 hour timeframe, as evidenced by a series of higher highs and higher lows. Recently, the price tested the 50% retracement level and bounced off it, indicating that this level is acting as support. The price tested the weekly support level and bounced off it, creating an impulse to the upper resistance. This is a bullish sign, as it suggests that buyers are stepping in and pushing the price higher. How can i Approach this scenario? If the price of GBP/USD breaks through the daily resistance level, it would be a strong bullish signal that the uptrend is likely to continue. A break above resistance can often lead to a sharp price increase, so it could be a good opportunity for traders to enter a long position. To confirm the breakout, traders should wait for a daily candle to close above the resistance level, as this would indicate a clear break. If this happens, traders could set a long order at or above the resistance level according to the Plancton's strategy rules.
by InkyGrip
2
EURGBP a turn at the 0.786 Fibonacci 🦐EURGBP currency pair on a 4-hour chart has dropped to the 0.786 Fibonacci level after experiencing resistance at a weekly level and then falling directly onto a daily support level. After the drop, the market started to move upward, breaking and retesting the 50% level of the previous impulse. This suggests that the pair may have found a new level of support and could potentially continue to move upward in the short-term. The pair has retested the 0.5 Fibonacci level and is currently approaching a minor resistance level. How can i approach this scenario? If the market breaks above this resistance level, it could be considered a bullish signal and a potential opportunity for a long order according to the Plancton's strategy rules.
by InkyGrip
12
GBP/CHF 4H Bullish Trend, Long Opportunity 🦐The market trend for GBP/CHF on the 4H chart appears to be bullish, with the price action showing a series of higher highs and higher lows. This pattern is a positive indication for buyers in the market. The recent test of resistance and subsequent move towards the 50% Fibonacci level adds further confirmation of the bullish sentiment. How can i approach this scenario? If the price can break above the resistance, it could provide a potential opportunity for traders to enter the market with a long 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.
by InkyGrip
NZD/USD: A Trendline Break Indicates Short Opportunity 🦐NZD/USD has been showing a bullish trend in recent times, with the price testing the resistance level at 0.65000. However, after a period of distribution, the price has been testing an ascending trendline over a support level. This trendline acts as a key level of support, and if the price were to break below it, it could indicate a potential short-order opportunity. In technical analysis, trendlines are used to identify the direction of a trend and to help traders make decisions on entering or exiting a trade. In this case, if the price breaks below the ascending trendline, it may suggest that the bullish momentum is losing strength and that the price could potentially move lower. Traders should keep a close eye on the price action near the trendline and consider entering a short position if the price does break below it and should always have a well-defined risk management plan in place to limit potential losses as Plancton's strategy suggest. ––– 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.
by InkyGrip
2
GJ a short term analysis 🦐GJ on the 4h chart after the test of the weekly support one more time moved higher to the dynamic resistance area at the 160.000 zone. According to Plancton's strategy if the market will satisfy the condition we can set a nice long order for a higher high. Being the last trading day of the week it might be risky to open positions. ----- 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.
by InkyGrip
10
GBPCAD can break above? 🦐GBPCAD after our previous analysis dropped as expected to the 50% retracement where the market tested a support area. The market then moved to the upside and is currently trading between the 0.382 Fibonacci level and a daily resistance. How can i approach this scanrio? According to Plancton's strategy IF the market will break above the structure we can set a nice long 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.
by InkyGrip
8
SILVER looking up 🦐SILVER on the 4h chart is trading with a series of higher lows at the recent highs. The price couldn't break yet the resistance at the top but the main trend remains bullish. How can i approach this scenario? According to Plancton's strategy IF the market will break above we will set a nice long 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 questions. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
SAXO:XAGUSD
by InkyGrip
4
EUR/CHF Breakout Above Weekly Resistance 🦐Technical analysis of the EUR/CHF pair on the 4-hour time frame reveals an upward trend within an ascending channel. After reaching a recent low, the price action started to move higher, forming higher highs and higher lows. The ascending channel pattern formed as the price action created two parallel trend lines, one acting as resistance and the other as support. The price initially experiences rejection at the weekly resistance, this is a sign that there is strong selling pressure at that point. However, if the price can successfully break above the resistance, it can indicate that the buying pressure is stronger and that the upward trend may continue. In such a scenario, traders can place a long order at the break of the resistance, with a stop loss placed below the level according to the Plancton's strategy rules. It is important to keep in mind that the market can be unpredictable and traders should always have a well-defined risk management strategy in place as we teach in the Academy, as well as monitor the price action and any relevant news and economic releases that may impact the pair.
by InkyGrip
USDJPY Long After a Break of the Confluence Zone at 131 🦐Based on the 4 hour timeframe, the USDJPY pair is currently in a bearish trend, as evidenced by its price action inside a descending channel. The market has recently tested the upper trendline of the descending channel with equal highs and rising lows, this could indicate a potential bullish reversal and a shift from bearish to bullish momentum. The price of USDJPY was rejected by the daily resistance at the 131 level and tested the 50% level of the Fibonacci retracement, this could indicate that the bears are still in control of the market, but the bulls may be trying to regain momentum. We can consider trading a long order on USDJPY, after a break of the resistance zone at the 131 level, confirm the clear break above the confluence zone, and set a position according to the Plancton's strategy. Using multiple timeframes, and tools can help validate the trade setup and adjust your trade as needed.
by InkyGrip
6
USOIL can move higher? 🦐USOIL on the 4h chart after the recent low started an impulse to the upside. The market after the retest of the daily resistance (blue) retraced perfectly at the 50% level. The price is now back at the structure below the 81 level and a bullish continuation can be expected. How can i approach this scenario? According to Plancton's strategy IF the market will break above we will set a nice long 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.
TVC:USOIL
by InkyGrip
6
GOLD can move higher? 🦐GOLD on the 4h chart is a t the top of a long bull run. The price creates a strong seres of higher highs higher lows and currently the market is trading below a minor resistance. How cab i approach this scenario? Is risky to take long trade at the top of a trend but I will wait for the EU market open and, IF the price will break and close above, Ii will consider a nice long 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 questions. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
OANDA:XAUUSD
by InkyGrip
8
USD/CHF: Potential Break at a Key Resistance 🦐USD/CHF has been in a downtrend, but recently tested a weekly resistance level at 0.91000. After testing this level, the market started an impulse move and has now tested the 0.618 Fibonacci level. This level is significant because it is a key retracement level and is often an area where the market may see a reversal or a significant pullback. Traders may look for a potential long-trade opportunity if the market holds above this level, with a stop loss and the target set according to the Plancton's strategy rules. Currently, the market is trading below the 0.92400 resistance level. A break above this level could show a sign of a potential buying signal.
by InkyGrip
4