EURJPY on the daily chart is moving inside a descending channel.
The price is now testing the lower trendline near to a weekly support (red).
How can we approach this scenario?
We will wait for the market to break below the monthly support and in that case, we will move on the 4h timeframe to check if the price will retest the area.
In that case I will set 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.
The price is now testing the lower trendline near to a weekly support (red).
How can we approach this scenario?
We will wait for the market to break below the monthly support and in that case, we will move on the 4h timeframe to check if the price will retest the area.
In that case I will set a nice short order according to the Plancton's academy 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.
Comment:
moving to the lower side as we expect
Comment:
lower low in the weeks open
