GBPJPY has been trading between 2 structures since March 2021.
After such a long range the price is now to the 158 area and possibly break above.
I can see how after the previous test price has turned at the 0.786 Fibonacci level and creates a sold green candle afterward.
How can i approach this scenario?
I will wait during next week for a break of the resistance and in that case, i will move on the lower timeframe to spot and entry point for a long 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.
After such a long range the price is now to the 158 area and possibly break above.
I can see how after the previous test price has turned at the 0.786 Fibonacci level and creates a sold green candle afterward.
How can i approach this scenario?
I will wait during next week for a break of the resistance and in that case, i will move on the lower timeframe to spot and entry point for a long 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:
testing a confluence area
Comment:
a clear break!
Comment:
bullish continuation as expected
Comment:
Pushing P 😎
Comment:
the ascending trendline holds the uptrend at the moment, we see a strong bullish momentum anyway
Comment:
trendline rejection
