GBPJPY a move to the 0.618 🦐
GBPJPY on the 4h chart reached the 0.5 Fibonacci level over a daily support providing us another great profit opportunity since our last call on this pair.
The price is now testing the support area and some retracement can to the 0.382 can happen in the next trading hours but, we can expect anyway some more retracement to the downside in the midterm.
How can i approach this scenario?
I will wait for the potential break of the 0.5 Fibonacci level and in that case i will wait for the Plancton's strategy rules to be applied and set a nice short order.
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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 is now testing the support area and some retracement can to the 0.382 can happen in the next trading hours but, we can expect anyway some more retracement to the downside in the midterm.
How can i approach this scenario?
I will wait for the potential break of the 0.5 Fibonacci level and in that case i will wait for the Plancton's strategy rules to be applied and set a nice short order.
----
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:
the market has started the retracement
