XAUUSD on the 4h chart has retested the 0.618 Fibonacci level over a support area . The price is trading around the 1830, at the 0.382 level, and i will look for a possible break of the descending channel .
How can i approach this scenario?
I will wait for a potential break of the descending trendline and in that case, i will look for the Plancton's strategy to set a nice long order.
--–– 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