GOLD after our previous analysis moved as expected over the support and start a consolidation between the 2 converging trendlines over a weekly support.
The price attempted yesterday a break below the 1900 level and got immediately pushed back above.
How can we approach this scenario?
I will check for a potential break of the minor resistance at the 1930 and in that case I wll consider a nice long order according to the Plancton's strategy 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 price attempted yesterday a break below the 1900 level and got immediately pushed back above.
How can we approach this scenario?
I will check for a potential break of the minor resistance at the 1930 and in that case I wll consider a nice long order according to the Plancton's strategy 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
Comment:
the market is still moving below the resistance area
Comment:
nice confluence zone, a break could mean upside continuation
