USOIL on the daily chart tested twice the support area at the 0.618 level.
The market after the last test created an impulse to the upside and the price is currently testing the descending trendline that start from the recent market highs, below a daily resistance.
How can we approach this scenario?
We will wait for the EU market open and check for a possible break of the confluence area.
In that case i will move on the 4h timeframe and check for a nice long order according to 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 last test created an impulse to the upside and the price is currently testing the descending trendline that start from the recent market highs, below a daily resistance.
How can we approach this scenario?
We will wait for the EU market open and check for a possible break of the confluence area.
In that case i will move on the 4h timeframe and check for a nice long order according to 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:
breaking above as expcted
