GBPNZD on the 4h chart after the recent bounce over the weekly support retraced between the 0.5 and the 0.618 Fibonacci level. The price is now trading above a minor support and. we can expect some bearish price action after the EU market open.
How can iu approach this scenario?
I will wait foe the break below the support area and when that will happen i will look for a nice short order according to the 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.
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breaking the support area, looking for the US open moves
A very high-quality analysis of the asset. I think that the immediate price reaction will help make sure of the further direction of movement. Buddy, I wonder what indicators you use in your analysis?