USOIL on the 4h chart is trading inside a descending channel in a series of lower low lower high. The price tested the weekly support and moved back above the structure, testing now the upper trendline.
How can i approach this scenario?
I will wait for a potential break of the channel and if that will occur i will look for a nice 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.