XAUUSD on the 4h chart has retested the 0.5 Fibonacci level over a support area.
The price is trading around the 1830 and i will look for a possible break of the descending channel.
How can i approach this scenario?
I will wait for a potential break of the resistance area at the 1840 area and in that case i will look for the Plancton's strategy to set a nice long order.
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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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
The price is trading around the 1830 and i will look for a possible break of the descending channel.
How can i approach this scenario?
I will wait for a potential break of the resistance area at the 1840 area and in that case i will look for the Plancton's strategy to set a nice long order.
--––
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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
Comment:
perfect bounce over the 0.5 Fib