GBPJPY on the daily chart after the recent highs reached the 0.618 Fibonacci level over a daily support.
The price can now look for a retracement to the upside before a new leg down in an ABC pattern.
How can i approach this scenario?
I will wait for the possible test of the 0.382 or the 0.5 Fibonacci level and at that stage i will look for a possible inversion to 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 price can now look for a retracement to the upside before a new leg down in an ABC pattern.
How can i approach this scenario?
I will wait for the possible test of the 0.382 or the 0.5 Fibonacci level and at that stage i will look for a possible inversion to 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.
Commento:
after the false breakout the market is retracing to the upside as expected
Commento:
moving to the 0.382 level
Commento:
test of the 0.382 and move to the downside as epxcted
Commento:
exactly the bounce on the 0.382 we were expecting for
