NZDJPY an ascending triangle 🦐
NZDJPY on the 4h chart is trading between an ascending trendline and a static resistance.
The price after a few tests of the 2 areas is now trading below the resistance structure.
How can i approach this scenario?
Being the triangle. a continuation pattern i will wait for a possible break of the upper structure and in that case, i will be ready to set a nice long 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.
The price after a few tests of the 2 areas is now trading below the resistance structure.
How can i approach this scenario?
Being the triangle. a continuation pattern i will wait for a possible break of the upper structure and in that case, i will be ready to set a nice long 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 false breakout of the structure
Comment:
break and retest as expected
Comment:
a first break and retest has happened as expected
