AUDCAD will take a break? 🦐
AUDCAD on the 4h chart is trading at the recent top of an over-extended bullish move.
The market reached the descending weekly resistance trendline and some retracement to the support area can be seen.
How can i approach this scenario?
I will wait for a potential break of the minor support area and IF the price will provide us a nice sign of inversion i will consider a short order 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 market reached the descending weekly resistance trendline and some retracement to the support area can be seen.
How can i approach this scenario?
I will wait for a potential break of the minor support area and IF the price will provide us a nice sign of inversion i will consider a short 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
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