GBPJPY on the 4h chart is now testing the descending trendline of the channel.
The price after testing the 0.618 Fibonacci retracements of the previous move starts a new leg up found a minor resistance at the 139.600 zone.
IF the price will break and close above the structure we can set a nice long order according to Plancton's strategy.
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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 after testing the 0.618 Fibonacci retracements of the previous move starts a new leg up found a minor resistance at the 139.600 zone.
IF the price will break and close above the structure we can set a nice long order according to Plancton's strategy.
----
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:
price breaks above the trendline
Comment:
the market attempts to break the weekly resistance