XAUUSD on the 4h chart reached as expected the 1860 level and is now testing a daily resistance.
The market after the break of the descending channel seems to have enough strength to break above and move to the next structure around the 1890 area.
How can we approach this scenario?
I will wait for the EU market open and check for a possible break of the resistance area .
In that case, i will search for a new entry point according to the Plancton's strategy rules for a nice risk-reward trade.
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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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
The market after the break of the descending channel seems to have enough strength to break above and move to the next structure around the 1890 area.
How can we approach this scenario?
I will wait for the EU market open and check for a possible break of the resistance area .
In that case, i will search for a new entry point according to the Plancton's strategy rules for a nice risk-reward trade.
--––
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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
