EURGBP on the monthly chart found an extreme resistance around the 0.92 area.
That level historically has always rejected the price bit could it make it this time?
The market broke on June 2016 the discending monthly channel and start a new uptrending channel since then.
Price moved in a range between 0.8350070.87000 and 0.92 since 2017.
ON the daily chart the market after the sharp attempt to break the monthly resistance got rejected and retracing back.
IF the price will hit the weekly resistance at the 0.618 fib level and give us a clear sign of inversion, we can set a nice long order according to our strategy.
IF the market will break and close below at the retest of it we can expect a test of the lower support zone around 0.88600.
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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.
That level historically has always rejected the price bit could it make it this time?
The market broke on June 2016 the discending monthly channel and start a new uptrending channel since then.
Price moved in a range between 0.8350070.87000 and 0.92 since 2017.
ON the daily chart the market after the sharp attempt to break the monthly resistance got rejected and retracing back.
IF the price will hit the weekly resistance at the 0.618 fib level and give us a clear sign of inversion, we can set a nice long order according to our strategy.
IF the market will break and close below at the retest of it we can expect a test of the lower support zone around 0.88600.
–––––
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.