USOIL on the 4h chart after the recent high started a possible lower low lower high move.
The price is now closing a 2nd wave and testing a support around the 100 level.
The test of the 0.5 Fibonacci level could be a sign of a deeper retracement of the market that could retest the 95 zone.
How can we approach this scenario?
We will wait for the break of the support and in that case, we will search for a nice entry point 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 price is now closing a 2nd wave and testing a support around the 100 level.
The test of the 0.5 Fibonacci level could be a sign of a deeper retracement of the market that could retest the 95 zone.
How can we approach this scenario?
We will wait for the break of the support and in that case, we will search for a nice entry point 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.
Comment:
the 100 level holds, a break below will make me consider a short position
Comment:
trying to break the support area
