USOIL on the weekly chart is moving inside a huge descending channel.
The price after hitting the 43 area got rejected until the weekly support structure.
On the daily chart, the price was moving inside an ascending channel but couldn't break the weekly descending trendline.
IF the price will manage to break above the daily resistance at 39.30 and consequently break the descending trendline we will set a nice long order.
If the price instead will break below the 35.70 area again we will look for a short position.
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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 price after hitting the 43 area got rejected until the weekly support structure.
On the daily chart, the price was moving inside an ascending channel but couldn't break the weekly descending trendline.
IF the price will manage to break above the daily resistance at 39.30 and consequently break the descending trendline we will set a nice long order.
If the price instead will break below the 35.70 area again we will look for a short position.
–––––
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:
strong bullish impulse
Comment:
bullish continuation
Comment:
price near to the monthly resistance