EURGBP on the 4h chart after the recent low sharply inverted the trend and started a strong impulse to the upside.
I can see the price testing twice the daily resistance at the 0.84200 before retracing at the 0.5 Fibonacci level and coming back for a new test and a potential break.
How can we approach this scenario?
I will monitor the market to check a possible break above the 0.84250 area.
In that case i will look for a potential entry according to the Plancton's strategy rules.
āāāāā
Follow the Shrimp š¦
Keep in mind.
š£ Purple structure -> Monthly structure.
š“ Red structure -> Weekly structure.
šµ Blue structure -> Daily structure.
š” Yellow structure -> 4h structure.
ā«ļø 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.
I can see the price testing twice the daily resistance at the 0.84200 before retracing at the 0.5 Fibonacci level and coming back for a new test and a potential break.
How can we approach this scenario?
I will monitor the market to check a possible break above the 0.84250 area.
In that case i will look for a potential entry according to the Plancton's strategy rules.
āāāāā
Follow the Shrimp š¦
Keep in mind.
š£ Purple structure -> Monthly structure.
š“ Red structure -> Weekly structure.
šµ Blue structure -> Daily structure.
š” Yellow structure -> 4h structure.
ā«ļø 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
The resistance seems to hold well the uptrend, I can spot a potential ascending triangle that still needs to be confirmed
Note
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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.