GBPUSD on the 4h chart is trading at the recent lows. The market after the break of the monthly support has retraced for a test of the 0.618 Fibonacci level and is currently testing the 1.20 area.
How can i approach this scenario?
I will wait for a potential break of the structure and in that case i will look for 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.