GBPCAD a turn at the 0.382 🦐

GBPCAD on the 4h chart after the last bearish leg retraced exactly at the 0.382 Fibonacci level.
The price is now testing again the daily support at the 1.63400 level.

How can i approach this scenario?

I will wait for the break below the support and when that will happen 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.

Commento:

after a last test the market is now breaking the support area

Commento:

A magic lower low as expected

Commento:

lower low and 125 pips delivered

Commento:

222 pips

Commento:

the price reached the expected support area

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Commento:

a perfect bounce over the strong support