GBPNZD on a short term outlook 🦐

GBPNZD on the 4h chart after the recent bounce over the weekly support retraced between the 0.5 and the 0.618 Fibonacci level.
The price is now trading above a minor support and. we can expect some bearish price action after the EU market open.

How can iu approach this scenario?

I will wait foe the break below the support area and when that will happen i will look for a nice short order according to the Plancton's academy 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.

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breaking the support area, looking for the US open moves

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a bearish move can be expected

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moving according to my analysis

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looking for the break of the support

InkyGrip

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InkyGrip