USDCAD for a new low 🦐

USDCAD on the daily after the double top is testing a weekly support.
The market attempted to break the 0.618 weekly Fibonacci level with 2 false breakouts and moved lower to the support structure.
After a series of red candles, we can expect anyway some retracement to the upside before a possible break.

How can we approach this scenario?

I will wait for a potential break of the structure and in that case i ll move to the 4h chart.
On that timeframe, i will check for an entry point according to Plancton's strategy rules and set a nice short 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 question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger

코멘트:

the price is pushing for a break as expected

코멘트:

possible double bottom and retracement to the upside here, at the moment no confirmation yet

코멘트:

im going to wait for a clear break of the support before considering a short here