NZDCAD on the 4h chart after the over-extended impulse started a retracement move.
The market, after the 1st bearish leg , retraced at the weekly resistance where the 50% of the move stands.
The move left some liquidity below the support area and we can look for a continuation of the retracement.
How can i approach this scenario?
I will wait for a possible break of the support and if that will happen i will be looking for a nice short order according to the Plancton's strategy rules.
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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
The market, after the 1st bearish leg , retraced at the weekly resistance where the 50% of the move stands.
The move left some liquidity below the support area and we can look for a continuation of the retracement.
How can i approach this scenario?
I will wait for a possible break of the support and if that will happen i will be looking for a nice short 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 question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger