USDCAD retrace before the new impulse? 🦐
Updated
USDCAD on the 4h chart after the triple top over the support at the 1.24700 started a bullish impulse up to the 1.27500.
The market is looking now for a retracement to the 0.382 and a possible test of the lower support area.
How can i approach this scenario?
I will wait for a test of the structure and in that case, i ll check for a possible inversion around that area, when the market will shift the scenario i will look 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 market is looking now for a retracement to the 0.382 and a possible test of the lower support area.
How can i approach this scenario?
I will wait for a test of the structure and in that case, i ll check for a possible inversion around that area, when the market will shift the scenario i will look 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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