EURGBP on the daily chart is currently testing the string support area at the 0.83000 level.
The price after a few test over the confluence between the structure and the weekly descending trendline retraced at the 0.618 Fibonacci level and tested a daily resistance level before turning again to the support.
How can we approach this scenario?
The increasing volatility can provide some false breakout, especially in the areas of a strong structure. We will monitor the price for a possible break below the area and in that case, we will move on the 4h timeframe to look for the Plancton academy rules and set a nice short order.
âââââ
Follow the Shrimp đŠ
Keep in mind.
đŁ Purple structure -> Monthly structure.
đŽ Red structure -> Weekly structure.
đ” Blue structure -> Daily structure.
đĄ Yellow structure -> 4h structure.
â«ïž 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 a few test over the confluence between the structure and the weekly descending trendline retraced at the 0.618 Fibonacci level and tested a daily resistance level before turning again to the support.
How can we approach this scenario?
The increasing volatility can provide some false breakout, especially in the areas of a strong structure. We will monitor the price for a possible break below the area and in that case, we will move on the 4h timeframe to look for the Plancton academy rules and set a nice short order.
âââââ
Follow the Shrimp đŠ
Keep in mind.
đŁ Purple structure -> Monthly structure.
đŽ Red structure -> Weekly structure.
đ” Blue structure -> Daily structure.
đĄ Yellow structure -> 4h structure.
â«ïž 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.
Kommentera:
the price got rejected by the strong support
Kommentera:
The price is bouncing over the confluence