NZDJPY on a bearish move? 🦐
NZDJPY on the daily chart is currently testing the weekly support after a few rejections by the strong descending trendline at the highs.
The market right bounce today to the upside to gain the strength for a break below.
How can i approach this scenario?
I will wait for a potential break of the support area and in that case i will look for a nice short order according to the Plancton's strategy 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.
The market right bounce today to the upside to gain the strength for a break below.
How can i approach this scenario?
I will wait for a potential break of the support area and in that case i will look for a nice short order according to the Plancton'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.
Comment:
a retracement to the 0.5 can be expected
Comment:
perfect 0.618 test