USDCAD on the 4h chart after the break oif the descending channel moved as expected to the weekly resistance.
The price got rejected and retraced at the 0.618 Fibonacci level over a support and is currently retesting the upper structure.
How can i approach this scenario?
I will wait for a potential break above of the area and in that case i will look for a nice long order until the resistance 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 question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
The price got rejected and retraced at the 0.618 Fibonacci level over a support and is currently retesting the upper structure.
How can i approach this scenario?
I will wait for a potential break above of the area and in that case i will look for a nice long order until the resistance 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 question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
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