On the weekly chart Gold after 5 weeks in a range between 1900 zone and 1975 area, broke below the weekly structure.
Price hit the ema 21 and couldn't manage to break it and during the next weeks, we can expect a possible retest of the structure.
IF the price will break the ema, the market can carry on the retracement until the lower trendline of the channel at the monthly support that also is the 0.382 fib retracement of the last extended bullish leg.
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Follow the Shrimp 🦐
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 Plancton0618 strategy will trigger.
Price hit the ema 21 and couldn't manage to break it and during the next weeks, we can expect a possible retest of the structure.
IF the price will break the ema, the market can carry on the retracement until the lower trendline of the channel at the monthly support that also is the 0.382 fib retracement of the last extended bullish leg.
–––––
Follow the Shrimp 🦐
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 Plancton0618 strategy will trigger.
Comment:
On the daily chart price is going for a retest of structure
Comment:
Nice retest of structure. As expected
