Get started

Aud-jpy

AUDJPY potential for further uptrend | 12th JanPrice is trading in an ascending channel and is near buy entry price of 83.285 which is also 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially go to the take profit level of 84.528 which is also 127.2% Fibonacci projection and 78.6% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
AUDJPY bullish continuation! | 10th Jan 2022Prices are on bullish momentum and consolidating in a bullish channel . We see the potential for a bounce from our buy entry at 82.89 which is an area of Fibonacci confluences towards our Take Profit at 84.234 in line with 100% Fibonacci extension . RSI are at levels where bounces occurred previously. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by FXCM
3
AUDJPY bullish continuation! | 10th Jan 2022Prices are on bullish momentum and consolidating in a bullish channel. We see the potential for a bounce from our buy entry at 82.89 which is an area of Fibonacci confluences towards our Take Profit at 84.234 in line with 100% Fibonacci extension. RSI are at levels where bounces occurred previously. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
AUD JPY - FUNDAMENTAL DRIVERSAUD FUNDAMENTAL BIAS: NEUTRAL 1. Monetary Policy In Dec the RBA kept rates at 0.10% and weekly bond purchases at A$4bln until mid-Feb, as expected. They reiterated that they are committed to maintaining highly supportive monetary conditions and won’t raise rates until actual inflation is sustainably within their 2%-3% target range. They noted that the economy is recovering from the Delta slowdown and is expected to return to pre-Delta path in 1H22. The positive take from the meeting was that the RBA does not think Omicron will derail the recovery and sounded a bit more optimistic than markets anticipated. They also said they will consider the future of their QE program at the Feb meeting and outlined their criteria which include actions of other central banks, bond market functioning and actual and expected progress towards the goals of full employment and inflation consistent with their target. All in all, the bank still had a dovish stance but was more optimistic about the economy than expected. Furthermore, out of the 3 criteria set by the bank, the first two is arguably a green light, so now we wait for incoming economic data to see whether it’s good enough for the bank to stop QE . 2. Economic & Health Developments There are 4 key drivers we’re watching for Australia’s med-term outlook: The virus situation – so far, the RBA has been positive about a post-Delta recovery, but incoming employment and inflation data will be crucial to see whether that optimism is justified. China – Even though the PBoC has finally stepped up with new stimulus & some fiscal support is expected in 1H22, the Covid-Zero policy in China does risk that the expected 2022 recovery might be delayed (not derailed) so the recent rapid rise in cases is one to watch in case China sees additional lockdown restrictions. Politically, the recent AUKUS defence pact could see possible retaliation from China against Australian goods. Commodities – Iron Ore, (24% of exports) and Coal prices (18% of exports) are important for terms of trade, and with both of them pushing higher on PBoC easing, that is a positive for the AUD as long as they remain their recent push higher. Global growth – as a risk proxy, where the global economy goes from here will be another important consideration for AUD, with more focus on China though. 3. Global Risk Outlook As a high-beta currency, the AUD benefited from the market's improving risk outlook coming out of the pandemic as participants moved out of safe-havens. As a pro-cyclical currency, the AUD enjoyed upside alongside other cyclical assets supported by reflation and post-recession recovery best. If expectations for the global economy remains positive the overall positive outlook for risk sentiment should be supportive for the AUD in the med-term , but recent short-term jitters are a timely reminder that risk sentiment is also a very important short-term driver. 4. CFTC Analysis Latest CFTC data showed positioning change of -7526 with a net non-commercial position of -89366. As outsized net-shorts are usually seen as a contrarian indicator we want to be mindful of potential squeezes higher for the AUD, which also means that the AUD is likely to be more sensitive to positive data than negative data. The downside in equities have seen an additional increase in net-shorts and has once again moved closer towards historical lows, so be weary of short squeezes in the event of positive news. 5. The Week Ahead The week ahead is light in terms of economic data for the Aussie Dollar with only Retail Sales on the schedule. Even though it’s not a tier 1 data point, a substantial surprise could be market-moving for the AUD in the event of an unexpected beat which might see some of the stretched net-shorts square up and could create some upside in the AUD. Apart from that, the idea of a faster Fed as well as the steep rise in global yields have put equities under pressure, and as a favourite risk proxy has hit the AUD quite hard, so any further downside in equities will be important for the AUD this week and could see further pressure added if it also coincides with additional lockdown fears in China. On the China front we also have Chinese inflation data coming out this week so keep that on the radar for potential reactions in the AUD as well. JPY FUNDAMENTAL BIAS: BEARISH 1. Monetary Policy At their Dec meeting the BoJ kept policy mostly unchanged apart from unanimously voting to scale back emergency pandemic relief funding from March which includes tapering corporate bond and commercial paper buying, but they did also vote to extend a portion of the pandemic relief loan scheme to March for smaller firms. As always, the BoJ said they are ready to add additional stimulus and easing steps as the economy needs it. The bank reiterated that even though the economy has picked up it does still remain in a severe situation due to the COVID-19. The bank remains dovish and is unlikely going to change anytime soon. 2. Safe-haven status and overall risk outlook As a safe-haven currency, the market's risk outlook is the primary driver of JPY. Economic data rarely proves market moving for the JPY; and although monetary policy expectations can still prove marketmoving in the short-term, safe-haven flows are typically the more dominant factor. The market's overall risk tone has improved considerably following the pandemic with ongoing monetary and fiscal policy support paved the way for markets to expect a robust global economic recovery. As the Fed and other banks start to normalize, we do need to remember that it means those fiscal and monetary policy support is being reduced, which could mean a lot more volatility for markets in the weeks and months ahead. Even though that doesn’t mean our med-term bias for the JPY has changed, it simply means that we should expect more risk sentiment ebbs and flows this year, and the heightened volatility can create some fantastic directional moves in the JPY, as long as yields play their part. 3. Low-yielding currency with inverse correlation to US10Y As a low yielding currency, the JPY usually shares a strong inverse correlation to moves in yield differentials, more specifically in strong moves in US10Y . However, like most correlations, the strength of the inverse correlation between the JPY and US10Y isn’t perfect and will ebb and flow depending on the type of market environment from both a risk and cycle point of view. With the Fed tilting more aggressive, we think that opens up more room for curve flattening to take place with US02Y likely pushing higher while US10Y underperform. In this environment we do see some mild upside risks for the JPY, but we should not look at the influence from yields in isolation and also weigh it up alongside underlying risk sentiment and price action in the USD of course. 4. CFTC Analysis Latest CFTC data showed a positioning change of -9160 with a net non-commercial position of -62262. Even though the JPY’s med-term outlook remains bearish , the big net-shorts for both large speculators and leveraged funds always increases the odds of more punchy safe haven flows and mean reversion when risk sentiment deteriorates. However, despite risk sentiment taking a hit in the past trading week, the JPY has remained pressured as the move in US yields kept any JPY rallies in check. 5. The Week Ahead In the week ahead the biggest focus for the JPY will be on overall risk sentiment with the big rally in risk sentiment going into the last few trading days of the year with S&P futures managing to squeeze out another all-time high and Nasdaq futures getting very close to doing the same. The big amount of upside has been mostly attributed to equities taking the path of least resistance ( med-term bias remains tilted higher) and moves was probably exacerbated by thinner liquidity and lower volumes. If that momentum can continue at the start of the new year, we can expect to see further downside for the safe haven JPY and will be a key focus for the currency for the week ahead. Apart from that, keeping an eye on US yields will be important as always.
by thunderpips
2
AUDJPY short-term bearish momentum | 4th Jan 2022Price is abiding to the ascending channel , signifying a bullish momentum. However, we can expect price to make a short-term bearish drop from the pivot level in line with 78.6% Fibonacci projection towards take profit level in line with 78.6% Fibonacci projection . Our bearish bias is further supported by the RSI indicator where the RSI is abiding to the descending trendline resistance. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
3
AUDJPY short-term bearish momentum | 4th Jan 2022Price is abiding to the ascending channel, signifying a bullish momentum. However, we can expect price to make a short-term bearish drop from the pivot level in line with 78.6% Fibonacci projection towards take profit level in line with 78.6% Fibonacci projection. Our bearish bias is further supported by the RSI indicator where the RSI is abiding to the descending trendline resistance. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
AUDJPY is on bearish momentum! | 23 Dec 2021Prices are on bearish momentum and abiding to our bearish trendline . We see the potential for a dip from our sell entry at 82.472 in line with 50% Fibonacci retracement and 61.8% Fibonacci extension towards our Take Profit at 81.270 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension . Technical indicators are showing bearish momentum. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
2
AUDJPY is on bearish momentum! | 23 Dec 2021Prices are on bearish momentum and abiding to our bearish trendline. We see the potential for a dip from our sell entry at 82.472 in line with 50% Fibonacci retracement and 61.8% Fibonacci extension towards our Take Profit at 81.270 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Technical indicators are showing bearish momentum. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
Possible trend shift in AUDJPY – going long | 22nd DecThe Tidal Shift Strategy has just bought AUDJPY at 81.62. The system recommends entering this trade at any price between 81.468 and 81.773. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.384, which suggests that the AUDJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.122, so the stop loss has been set at 81. 01 . This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Tidal Shift is a trend trading strategy that aims to catch shifts in trend using trader sentiment as an indicator. The strategy looks to buy when the Speculative Sentiment Index reaches its lowest value for the past 145 trading hours, and looks to short when it reaches its highest value for the past 145 trading hours. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by FXCM
Possible trend shift in AUDJPY – going long | 22nd Dec Signal ID: 78791 Time Issued: Tuesday, 21 December 2021 20:00:15 GMT Status: open Entry: 81.468 - 81.773 Limit: N/A Stop Loss: 81.010 The Tidal Shift Strategy has just bought AUDJPY at 81.62. The system recommends entering this trade at any price between 81.468 and 81.773. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.384, which suggests that the AUDJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.122, so the stop loss has been set at 81.01. This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Tidal Shift is a trend trading strategy that aims to catch shifts in trend using trader sentiment as an indicator. The strategy looks to buy when the Speculative Sentiment Index reaches its lowest value for the past 145 trading hours, and looks to short when it reaches its highest value for the past 145 trading hours. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
AUD JPY - FUNDAMENTAL DRIVERSAUD FUNDAMENTAL BIAS: NEUTRAL 1. Monetary Policy In Dec the RBA kept rates at 0.10% and weekly bond purchases at A$4bln until mid-Feb, as expected. They reiterated that they are committed to maintaining highly supportive monetary conditions and won’t raise rates until actual inflation is sustainably within their 2%-3% target range. They noted that the economy is recovering from the Delta slowdown and is expected to return to pre-Delta path in 1H22. The positive take away from the meeting was that the Omicron variant is not expected to derail the recovery. The bank said they’ll consider the future of their QE program at the Feb meeting. Furthermore, the bank also outlined their criteria for deciding on the future of bond purchases, which include actions of other central banks, bond market functioning and actual and expected progress towards the goals of full employment and inflation consistent with the target. All in all, the bank still had a dovish stance but was more optimistic about the economy than expected. 2. Economic & Health Developments There are 4 key drivers we are watching for Australia’s med-term outlook: The virus situation – so far, the RBA is positive about the post-Delta recovery, so incoming data will be crucial to see whether that optimism is justified. China – After months of waiting, the PBoC finally stepped up with easing & news of fiscal stimulus coming in early 2022 is a very important positive development for the AUD. Politically, the recent AUKUS defence pact could see retaliation from China against Australian goods. Commodities – Iron Ore, (24% of exports) and Coal prices (18% of exports) are important for terms of trade, and with both of them pushing higher on the PBoC easing, that is a positive for the AUD. Global growth – as a risk proxy, where the global economy goes from here will be another important consideration for AUD, with more focus on China though. 3. Global Risk Outlook As a high-beta currency, the AUD benefited from the market's improving risk outlook coming out of the pandemic as participants moved out of safe-havens. As a pro-cyclical currency, the AUD enjoyed upside alongside other cyclical assets supported by reflation and post-recession recovery best. If expectations for the global economy remains positive the overall positive outlook for risk sentiment should be supportive for the AUD in the med-term, but recent short-term jitters are a timely reminder that risk sentiment is also a very important short-term driver. 4. CFTC Analysis Latest CFTC data showed a positioning change of +2889 with a net non-commercial position of - 78903. As outsized net-shorts are usually seen as a contrarian indicator we want to be mindful of potential squeezes, which means the AUD is likely to be more sensitive to positive data than negative data. The recent positives from China and key Australian commodities already saw some shorts being squeezed out last week, and as long as Omicron doesn’t cause a global meltdown the prospects is starting to look better for the AUD going into 2022. 5. The Week Ahead In the week ahead it’s going to be a bit of a snoozer out there with no major events, at least ones that the markets will really care about. That means overall risk sentiment will be a key driver for markets. On that front, Omicron developments will be on the radar as cases continue to rise and more countries are moving towards stricter lockdowns. The Fed’s hawkish tilt and what that means for the med-term growth and inflation outlook will also be interesting. Also keep in mind that this week will be very quiet with reduced participation as many desks closed last week, so liquidity will be thin, and volumes will be low which means lacklustre market but could also mean exacerbated volatility if we get important news crossing the wires. We do have the RBA minutes being released on Tuesday which will be interesting given the slightly more optimistic tone from the bank at their recent policy meeting surrounding the Australian economy despite the Omicron risks. JPY FUNDAMENTAL BIAS: BEARISH 1. Monetary Policy At their Dec meeting the BoJ kept policy mostly unchanged apart from unanimously voting to scale back emergency pandemic relief funding from March which includes tapering corporate bond and commercial paper buying, but they did also vote to extend a portion of the pandemic relief loan scheme to March for smaller firms. As always, the BoJ said they are ready to add additional stimulus and easing steps as the economy needs it. The bank reiterated that even though the economy has picked up it does still remain in a severe situation due to the COVID-19. The bank remains dovish and is unlikely going to change anytime soon. 2. Safe-haven status and overall risk outlook As a safe-haven currency, the market's risk outlook is the primary driver of JPY. Economic data rarely proves market moving; and although monetary policy expectations can prove highly market-moving in the short-term, safe-haven flows are typically the more dominant factor. The market's overall risk tone has improved considerably following the pandemic with good news about successful vaccinations, and ongoing monetary and fiscal policy support paved the way for markets to expect a robust global economic recovery. Of course, there remains many uncertainties and many countries are continuing to fight virus waves, but as a whole the outlook has kept on improving over the past couple of months, which would expect safe-haven demand to diminish and result in a bearish outlook for the JPY. 3. Low-yielding currency with inverse correlation to US10Y As a low yielding currency, the JPY usually shares an inverse correlation to strong moves in yield differentials, more specifically in strong moves in US10Y. However, like most correlations, the strength of the inverse correlation between the JPY and US10Y is not perfect and will ebb and flow depending on the type of market environment from a risk and cycle point of view. With the Fed tilting more aggressive, we think that opens up more room for curve flattening to take place with US02Y likely pushing higher while US10Y underperform. In this environment we do see some mild upside risks for the JPY, but we should not look at the influence from yields in isolation and also weigh it up alongside underlying risk sentiment and the USD of course. 4. CFTC Analysis Latest CFTC data showed a positioning change of +9558 with a net non-commercial position of - 53523. Even though the JPY’s med-term outlook remains bearish, the big net-shorts for both large speculators and leveraged funds always increases the odds of mean reversion when risk sentiment deteriorates. However, the size of the recent unwind has been substantial and leaves room for some downside if risk assets can see some recovery. 5. The Week Ahead In the week ahead it’s going to be a bit of a snoozer out there with no major events, at least ones that the markets will really care about. That means overall risk sentiment will be a key driver for markets. On that front, Omicron developments will be on the radar as cases continue to rise and more countries are moving towards stricter lockdowns. The Fed’s hawkish tilt and what that means for the med-term growth and inflation outlook will also be interesting. Also keep in mind that this week will be very quiet with reduced participation as many desks closed last week, so liquidity will be thin, and volumes will be low which means lacklustre market but could also mean exacerbated volatility if we get important news crossing the wires. It’s also important to keep the JPY’s net-short positioning in mind, which means any major risk off flows is likely going to see the JPY a favourite safe haven as opposed to the CHF or USD (also keeping yields in mind of course).
by thunderpips
15
AUDJPY test the 0.5 fib level 🦐AUDJPY on the daily chart after the recent low tested the 0.5 Fibonacci level with a spike. The market is now turning into a bearish scenario and according to Pkancton's strategy IF price will break below and satisfy the ACADEMY rules we will set a nice short 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 question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
2