EURJPY on the 4h chart after the recent drop has tested the 0.786 Fibonacci level.
The price is now testing the 0.5 area after the attempt to break the weekly support area in the red color.
How can we approach this scenario?
We will wait for the EU market open and look for a possible break below the area.
In that case, I will set a nice short order according to the Plancton's academy rules for our established risk-reward ratio
--––
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 0.5 area after the attempt to break the weekly support area in the red color.
How can we approach this scenario?
We will wait for the EU market open and look for a possible break below the area.
In that case, I will set a nice short order according to the Plancton's academy rules for our established risk-reward ratio
--––
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:
waiting for the needed confirmation first
