EURGBP on the 4h chart is currently testing the strong support area at the 0.83000 level.
The price after a false breakout of the confluence between the structure and the weekly descending trendline retraced at the 0.618 Fibonacci level.
How can we approach this scenario?
The increasing volatility can provide some unexpected moves, especially in the areas of a strong structure. We will monitor the price for a possible new break below the area and in that case, we will look for the Plancton academy rules and set a nice short order.
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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 a false breakout of the confluence between the structure and the weekly descending trendline retraced at the 0.618 Fibonacci level.
How can we approach this scenario?
The increasing volatility can provide some unexpected moves, especially in the areas of a strong structure. We will monitor the price for a possible new break below the area and in that case, we will look for the Plancton academy rules and set a nice short order.
–––––
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.
