GBPUSD for a new low🦐
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GBPUSD on the 4h chart is trading at the recent lows.
The market after the break of the monthly support has retraced for a test of the 0.618 Fibonacci level and is currently testing the 1.20 area.
How can i approach this scenario?
I will wait for a potential break of the structure and in that case 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 market after the break of the monthly support has retraced for a test of the 0.618 Fibonacci level and is currently testing the 1.20 area.
How can i approach this scenario?
I will wait for a potential break of the structure and in that case 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.
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