EURJPY on the 4h timeframe is trading in a typical lower low lower high move and reached the weekly support area.
The market is moving between 2 converging trendlines which can be identified as a potential falling wedge, a reversal pattern that can be confirmed by the break of the confluence zone between the trendline and the daily resistance.
How can we approach this scenario?
The market after the last test of the resistance has turned to create 2 red candles bit IF the price will manage to break above the structure we will monitor the pair for a nice long order according to the Plancton 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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
The market is moving between 2 converging trendlines which can be identified as a potential falling wedge, a reversal pattern that can be confirmed by the break of the confluence zone between the trendline and the daily resistance.
How can we approach this scenario?
The market after the last test of the resistance has turned to create 2 red candles bit IF the price will manage to break above the structure we will monitor the pair for a nice long order according to the Plancton 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 questions.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
Note
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.