GBPCHF on the 4h chart is testing a confluence zone between the weekly resistance and a descending trendline.
The price after a false breakout started a range trading between the weekly structure and the 0.382 Fibonacci level.
How can we approach this scenario?
We will wait for the European market to open and check if the bulls will have enough strength to break above the resistance area.
In that case, if the price will break and retest the structure we will check for the application of the Plancton academy rules to set a nice long order.
--āā
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.
The price after a false breakout started a range trading between the weekly structure and the 0.382 Fibonacci level.
How can we approach this scenario?
We will wait for the European market to open and check if the bulls will have enough strength to break above the resistance area.
In that case, if the price will break and retest the structure we will check for the application of the Plancton academy rules to set a nice long order.
--āā
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 price could not break above, we will monitor the market during the next week open for the opportunity
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.
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.