GBPUSD on the 4h chart is trading at the recent lows.
The price after the last bearish impulse might look for some retracement to the upside.
How can i approach this scenario?
The market tested the 1.2300 area and is now trading below a minor resistance in a descending channel.
I will look for a break of the structure and a possible test of the upper confluence zone.
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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 look for some retracement to the upside.
How can i approach this scenario?
The market tested the 1.2300 area and is now trading below a minor resistance in a descending channel.
I will look for a break of the structure and a possible test of the upper confluence zone.
------
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:
testing the resistance area
Commento:
the 1.25 has been reached
