GBPUSD after last week's profit is providing us another short opportunity on the daily chart.
The GBP pairs together with most of the EUR pairs are getting weaker due to the uncertain situation of the new cold war with Russia.
On a technical side, we can see how the price tested perfectly the key Fibonacci levels such as the 0.786 then the weekly support at the 0.618 until the 0.5 and the 0.382.
How can we approach this scenario?
The price is now testing an important weekly support and we will wait for the US market open to check if a break below will happen.
In that case, I will move on the 4h timeframe to check for an opportunity to set a short order according to the Plancton's academy 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 GBP pairs together with most of the EUR pairs are getting weaker due to the uncertain situation of the new cold war with Russia.
On a technical side, we can see how the price tested perfectly the key Fibonacci levels such as the 0.786 then the weekly support at the 0.618 until the 0.5 and the 0.382.
How can we approach this scenario?
The price is now testing an important weekly support and we will wait for the US market open to check if a break below will happen.
In that case, I will move on the 4h timeframe to check for an opportunity to set a 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.
Comment:
the price moves as expected, we secure 3 out of 4 TP
Comment:
4 out of 4 TP
Comment:
142 pips
