EURCAD on the 4h chart is trading below a resistance level . The price after the long bearish trend creates a DOUBLE BOTTOM and is now looking for a retracement ato the upside.
How can i approach this scenario?
I will wait for a potential break of the structure and in that case, i will look for a nice long order according to the Plncton'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.
Comment
⋅
a new test of the support
Comment
⋅
now ready for the resistance break
Comment
⋅
waiting for a possible break above
Comment
⋅
the market is now attempting the break
Comment
⋅
after a false breakout the market is back in the range