GBPJPY on the daily chart is trading between 2 weekly structures. The price after the last test of the upper one created a perfect retracement to the 0.5 Fibonacci level with a spike to the 0.618 golden ratio.
How can we approach this scenario?
Currently the market is trading below a descending trendline and according to Plancton's strategy IF the market will break above and satisfy the Plancton Academy rules we will set a nice long order.
---- 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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the price didnt break above yet, our basics are not confirmed yet