GBPJPY on the daily chart is trading below a weekly structure.
The price after a few test of the daily support at the 148.820 area started a retracement move to the upside and is moving to the 0.618 level.
According to Placton's strategy if the price will provide us a sign of inversion we will set a nice short order, if the market instead will break above at the retest of it we can consider a long position.
----
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 test of the daily support at the 148.820 area started a retracement move to the upside and is moving to the 0.618 level.
According to Placton's strategy if the price will provide us a sign of inversion we will set a nice short order, if the market instead will break above at the retest of it we can consider a long position.
----
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 the resistance
Comment:
market reached a confluence zone
Comment:
price rejected by the confluence zone
Comment:
price look for the break above