USDJPY a short reversal at the 0.618 🦐
Updated
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
Note
Note
Note
Note
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