GBPUSD on the 4h chart is trading near to the recent lows and tested the monthly support at the 1.22 area.
The price after the last bearish impulse might carry on with the retracement to the upside and break the resistance at the 1.26 level
How can i approach this scenario?
The market tested the 1.2600 area and is now trading below a minor resistance.
I will look for a break of the structure and a possible test of the upper weekly resistance for a test of the 1.28 area.
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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 after the last bearish impulse might carry on with the retracement to the upside and break the resistance at the 1.26 level
How can i approach this scenario?
The market tested the 1.2600 area and is now trading below a minor resistance.
I will look for a break of the structure and a possible test of the upper weekly resistance for a test of the 1.28 area.
------
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:
we are looking for the support holds
Comment:
the market broke above the 4h resistance
Comment:
an 180 pips call so far
Comment:
retest of the support
Comment:
a new test of the support area
