GBPJPY on the 4h chart retraced eperfectly at the 0.618 Fibonacci level exactly at the 169.900 at the previous higher low level. The price is now trading above a minor support and the actual lower low lower high move has been respected.
How can i approach this scenario?
I will wait for a possible break of the support and in that case, i will consider a nice short order according to the Plancton's's strategy 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.
Great publication. Graphic analysis as if from textbooks. You can see that you have worked through several timeframes, the older timeframes also confirm your arguments. Thank you for your work!