USDJPY on the 4h chart reached the monthly resistance and started a retracement move to the 0.382 Fibonacci level.
The market failed to break the support area with a pattern that could look like a H&S at the top of trend.
The resistance area is the path of this pair and will difficult for bulls to break it at the 2nd attempt too.
At this stage the price provide us 2 possible scenario:
- if the price will break above the resistance we can look for a nice long order and a bullish continuatiom
- if the price instead will break the support of the 0.382 we can expect some deeper retracement and we can look for s short position
âââââ
Follow the Shrimp đŠ
Keep in mind.
đŁ Purple structure -> Monthly structure.
đŽ Red structure -> Weekly structure.
đ” Blue structure -> Daily structure.
đĄ Yellow structure -> 4h structure.
â«ïž 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 failed to break the support area with a pattern that could look like a H&S at the top of trend.
The resistance area is the path of this pair and will difficult for bulls to break it at the 2nd attempt too.
At this stage the price provide us 2 possible scenario:
- if the price will break above the resistance we can look for a nice long order and a bullish continuatiom
- if the price instead will break the support of the 0.382 we can expect some deeper retracement and we can look for s short position
âââââ
Follow the Shrimp đŠ
Keep in mind.
đŁ Purple structure -> Monthly structure.
đŽ Red structure -> Weekly structure.
đ” Blue structure -> Daily structure.
đĄ Yellow structure -> 4h structure.
â«ïž 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
Kommentera:
the price is now testing the 1st resistance, a nfp can change the outlook
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www.tradingview.com/x/oLKNWZm0/moving to the upside as expected
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expecting further bullish price action
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the bullish price action is happening
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another perfect artistic drawing
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another great call
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286 pips delivered
Kommentera:
a new recent high as expected
Kommentera:
new high
