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 ๐ฆ
Keep in mind.
๐ฃ Purple structure -> Monthly structure.
๐ด Red structure -> Weekly structure.
๐ต Blue structure -> Daily structure.
๐ก Yellow structure -> 4h structure.
โซ๏ธ 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