USOIL on the 4h chart after the expected bull run reached the monthly descending trendline.
The price is in an overextended impulse and is now trading between daily support and a descending trendline with a potential head and shoulders pattern formation.
How can we approach this scenario?
We will check if the price will break below the confluence zone and in that case, we will monitor the price for a short-order according to Plancton's Academy 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.
The price is in an overextended impulse and is now trading between daily support and a descending trendline with a potential head and shoulders pattern formation.
How can we approach this scenario?
We will check if the price will break below the confluence zone and in that case, we will monitor the price for a short-order according to Plancton's Academy 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.
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.