GBPUSD on the 4h chart broke and retest the dynamic support after the test of the 1.37500 area.
The price on the daily chart is moving in a descending channel and after the test of the upper trendline we can see an inversion.
How do we approach this scenario?
The pair is currently trading above a weekly support (red) and we can expect some more bear pressure.
If the price will break below and satisfy the academy rules we will set a nice short order.
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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 on the daily chart is moving in a descending channel and after the test of the upper trendline we can see an inversion.
How do we approach this scenario?
The pair is currently trading above a weekly support (red) and we can expect some more bear pressure.
If the price will break below and satisfy the academy rules we will set a nice short 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 question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Comment:
the market broke as expected the support trendline and is moving lower
Comment:
testing the support after the bearish leg
Comment:
nice one
Comment:
the market reached the support area
Comment:
the price bounces over the support
