GBPJPY on the 4h chart after the sharp retracement from the recent low tested the 0.886 Fibonacci level and turned to the bearsih scenario.
The market tests the 0.618 level and a downside continuation can be expected. .
How can i approach this scenario?
If the price will break below the support area i will set set a nice short order according to the Plancton's strategy 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.
The market tests the 0.618 level and a downside continuation can be expected. .
How can i approach this scenario?
If the price will break below the support area i will set set 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.
