USDJPY a short reversal at the 0.618 🦐
USDJPY on the 4h timeframe reached after the recent highs started a descending move.
The market, after an attempt to break the support area, retraced back above and perfectly tested the 0.618 Fibonacci level.
How can we approach this scenario?
We will wait for a break of the support area and in that case we will search for a possible short order entry according to the Plancton's academy 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, after an attempt to break the support area, retraced back above and perfectly tested the 0.618 Fibonacci level.
How can we approach this scenario?
We will wait for a break of the support area and in that case we will search for a possible short order entry according to the Plancton's academy 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:
looking for a break below
Comment:
after a 2nd test of the 0.618 the market seems ready for the expected bearish move
Comment:
break, retest and 100 pips profit since my free call
Comment:
high possibility of a lower low here
