GBPCAD can retrace lower? 🦐
GBPCAD on the 4h chart after the recent test of the weekly resistance dropped at the 0.382 Fibonacci Level.
The price is now testing a support area and we can expect some deeper retracement.
How can i approach this scenario?
I will wait for the European market open and IF the market will break and close below the structure i will consider a nice short order according to the Plancton's strategy rules.
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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.
The price is now testing a support area and we can expect some deeper retracement.
How can i approach this scenario?
I will wait for the European market open and IF the market will break and close below the structure i will consider a nice short order according to the Plancton's strategy 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.
Comment:
choppy retracement
Comment:
choppy test of the 50%
Comment:
moving lower as expected
Comment:
perfect drop
Comment:
test of the support area
Comment:
test of the supply area
Comment:
rejection by the 0.382
