SPX500USD dropping to a new recent low 🦐

6 במאי 2022

SPX500USD on the 4h chart is trading above a support area .
The price after a recent test of the 0.5 Fibonacci area seems to have the strength to close the trading week below the 4100 area and look for the 4000 zone.

How can i approach this scenario?

I will wait for a potential break of the structure and in that case, i will search for a nice short order according to Plancton's strategy rules.
Careful traders, being Friday might be tricky to enter in a trade in the late session.

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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.

9 במאי 2022

הערה

new lower low

10 במאי 2022

הערה

an almost 10% profit and perfect test of the descending trendline

12 במאי 2022

הערה

lower low for a 11.5% profit

13 במאי 2022

הערה

the price is back above the descending trendline for the weekly closure