EURGBP can move lower? 🦐
Updated
EURGBP on the 4h chart is trading within an ascending channel.
The price after the test of the historical string support provided a false breakout of the 0.8300 level and retraced to the upside.
With a test of the 0.8500 weekly resistance the market moved to the descending trendline of a weekly channel and is now moving lower.
How can i approach this scenario?
I will wait for the EU market open and if the price will break below 2 support areas i will check 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 price after the test of the historical string support provided a false breakout of the 0.8300 level and retraced to the upside.
With a test of the 0.8500 weekly resistance the market moved to the descending trendline of a weekly channel and is now moving lower.
How can i approach this scenario?
I will wait for the EU market open and if the price will break below 2 support areas i will check 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.
Note
Note
market is moving above the strong support area
Note
Note
Note
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