GBPCAD can retrace lower? 🦐

GBPCAD on the 4h chart after the recent test of the weekly resistance dropped at the 0.382 Fibonacci Level.
The price is now testing a support area and we can expect some deeper retracement.

How can i approach this scenario?

I will wait for the European market open and IF the market will break and close below the structure i will consider a nice short 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.

코멘트:

choppy retracement

코멘트:

choppy test of the 50%

코멘트:

moving lower as expected

코멘트:

perfect drop

코멘트:

test of the support area

코멘트:

test of the supply area

코멘트:

rejection by the 0.382