EURGBP on the 4h chart after the uptrend impulse reached the 0.88600 area.
The market started a distribution phase where it tested the upper resistance and lower support a few times without breaking it.
Being at the top of an impulse I would expect some retracement to the fair value.
The main trend remains anyway bullish so we will need a clear break of the support + the trigger of Plancton's strategy in order to consider a short position to the next support area.
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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 market started a distribution phase where it tested the upper resistance and lower support a few times without breaking it.
Being at the top of an impulse I would expect some retracement to the fair value.
The main trend remains anyway bullish so we will need a clear break of the support + the trigger of Plancton's strategy in order to consider a short position to the next support area.
–––––
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.