GOLD after our last analysis, on the 4 h chart, reaches exactly the 0.618 of the weekly Fibonacci bullish leg over an ascending channel.
The price hit daily support after breaking the weekly support at 1860 and now can look for retracements.
IF the price will look for one of the fib levels, retest the weekly resistance and turn into a bearish scenario again we will set a nice short order.
If the price instead will break again above it we will monitor the price for a nice long position according to Plancton's strategy.
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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
The price hit daily support after breaking the weekly support at 1860 and now can look for retracements.
IF the price will look for one of the fib levels, retest the weekly resistance and turn into a bearish scenario again we will set a nice short order.
If the price instead will break again above it we will monitor the price for a nice long position according to Plancton's strategy.
--––
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
