GBPUSD testing the 3 key levels 🦐
Updated
GBPUSD on the 4h chart is trading below and important weekly resistance.
The price after the last choppy candles tested perfectly the 0.618, the 0.5 and the 0.382 Fibonacci level as we can see from the Fib tool.
Now the price is testing a minor support and a lower low can be expected.
How can we approach this scenario?
We will wait for a break of the support area and in that case we will set a short order according to the Plancton's strategy rules for a nice risk-reward trade.
------
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 choppy candles tested perfectly the 0.618, the 0.5 and the 0.382 Fibonacci level as we can see from the Fib tool.
Now the price is testing a minor support and a lower low can be expected.
How can we approach this scenario?
We will wait for a break of the support area and in that case we will set a short order according to the Plancton's strategy rules for a nice risk-reward trade.
------
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
Note
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.