USDCAD on the daily chart is moving into a descending channel.
The price is now testing a confluence area between a daily resistance and the dynamic resistance and we can expect a test of the 1.30 area if the market will have enough strength to break above.
How can i approach this scenario?
I will wait for a break of the structure and in that case, i ll check for a possible continuation for a long 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 testing a confluence area between a daily resistance and the dynamic resistance and we can expect a test of the 1.30 area if the market will have enough strength to break above.
How can i approach this scenario?
I will wait for a break of the structure and in that case, i ll check for a possible continuation for a long 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
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