EURGBP on the daily chart after the recent low sharply inverted the trend and started a strong impulse to the upside.
I can see the price testing the 0.618 and the 0.5 Fibonacci level and come back for a new test and a potential break.
How can we approach this scenario?
I will monitor the market to check a possible break above the 0.84 area.
In that case i will look for a potential entry 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.
I can see the price testing the 0.618 and the 0.5 Fibonacci level and come back for a new test and a potential break.
How can we approach this scenario?
I will monitor the market to check a possible break above the 0.84 area.
In that case i will look for a potential entry 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:
the price is now moving to the new resistance area as expected
Comment:
the daily resistance holds the price at the moment
Comment:
resistance rejection
