EURCHF on the 4h chart created a perfect double bottom on the recent low.
As we know the double bottom play at best ta the end of a doentrend and this is the case.
The market started an impulse to the upside and then as the market waves normally do, retrecd to the 0.382 fibonacci level over a support with a spike to the 50% level.
How can i approach this scenario?
I will wait for the EU market open and IF the price will break above the 4h resistance structure i will consider a nice long order according to the Plancton's strategy rules.
As we know the double bottom play at best ta the end of a doentrend and this is the case.
The market started an impulse to the upside and then as the market waves normally do, retrecd to the 0.382 fibonacci level over a support with a spike to the 50% level.
How can i approach this scenario?
I will wait for the EU market open and IF the price will break above the 4h resistance structure i will consider a nice long order according to the Plancton's strategy rules.
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spot on analysis
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looking for a bullish continautiion
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still testing the resistance area
