GBPCAD on a double bottom retracement 🦐
GBPCAD after. a long downtrend seems to find a short term bottom.
The price tested twice the support and is now trading below a confluence between a descending trendline and a minor resistance.
How can i approach this scenario?
I will wait for a potential break of the resistance area and in that case i will be looking for a nice long 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 tested twice the support and is now trading below a confluence between a descending trendline and a minor resistance.
How can i approach this scenario?
I will wait for a potential break of the resistance area and in that case i will be looking for a nice long 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.
