GOLD on the daily chart after the historical highs started a retracement move inside a descending channel.
The price now hit the lower trendline over a weekly support and the 0.786 fib level of the previous bullish leg.
ON 4h chart we can notice that after the bearish impulse there was not retracement.
IF the price breaks above the minor resistance area we can expect the market to retest the 1800 area at the 0.382 fib level.
--––
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 now hit the lower trendline over a weekly support and the 0.786 fib level of the previous bullish leg.
ON 4h chart we can notice that after the bearish impulse there was not retracement.
IF the price breaks above the minor resistance area we can expect the market to retest the 1800 area at the 0.382 fib level.
--––
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
Comment:
Price bounces over the support zone, as expected
Comment:
price on the 0.618