GBPCAD looking for new lows 🦐
GBPCAD on the daily chart after the last bearish leg retraced exactly at the 0.786 Fibonacci level.
The price is now testing again the daily support at the 1.57500 level.
How can i approach this scenario?
I will wait for the break below the support and when that will happen i will look for 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 again the daily support at the 1.57500 level.
How can i approach this scenario?
I will wait for the break below the support and when that will happen i will look for 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:
the price is now breaking below as epxcted
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looking for a lower low here
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138 pips since my original idea
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a 190 pips call
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the market retest the 4h support
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looking for a lwoer low here
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moving for a lower low
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perfectly testing the support, some retracement to the upside can be expected
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www.tradingview.com/x/LXYFQbaa/225 pips call and a lower low can be expected
Comment:
and a lower low for more than 300 pips call
