EURJPY looking up 🦐
Updated
EURJPY on the 4h timeframe has been trading in a typical lower low lower high move and reached the weekly support area.
The market after the break of the 2 converging trendlines which can be identified as a falling wedge (reversal pattern) starts to consolidate between 2 structures.
How can we approach this scenario?
We will monitor the market open and wait for a possible break of the resistance area, at retest of it we will check for the application of the Plancton Academy rules application and set a nice long 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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
The market after the break of the 2 converging trendlines which can be identified as a falling wedge (reversal pattern) starts to consolidate between 2 structures.
How can we approach this scenario?
We will monitor the market open and wait for a possible break of the resistance area, at retest of it we will check for the application of the Plancton Academy rules application and set a nice long 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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
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