GBPJPY looking up 🦐

8 באפר׳ 2022

GBPJPY on the 4h chart reached the weekly resistance at a confluence point.
After an attempt to break above the price moved back below and is currently testing the resistance area
I can see how after the last impulse the price has tested the 0.618 the 0.5 and the 0.382 Fibonacci levels.


How can i approach this scenario?

I will wait during eu session for a break of the resistance and in that case, i will move on the lower timeframe to spot and entry point for a long order 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.

8 באפר׳ 2022

הערה

the price is struggling to brek above, we will check for a break on the next week

11 באפר׳ 2022

הערה

break and bullish continuation, as expcted

12 באפר׳ 2022

הערה

consolidation at the top