GOLD testing a weekly support 🦐

OANDA:XAUUSD   Gold Spot / U.S. Dollar
After a nice impulse Gold reached the upper trendline of a weekly descending channel .
The price got rejected and is now testing a support structure for a possible lower low retracement move.
According to Plancton's strategy if the price will break below we will set a nice short order.
Follow the Shrimp 🦐

Keep in mind.
🟣 Purple structure -> Monthly structure.
πŸ”΄ Red structure -> Weekly structure.
πŸ”΅ 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: breaking below as expected
Comment: awesome profit for our Planctoners!
Comment: a bounce over the support
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Nicely done!
+1 Reply
@FlyDownX, appreciate it, thanks 🦐
Awesome chart analysis, thank you! πŸ‘
+1 Reply
plancton0618 financialflagship
@financialflagship, you rock 🦐
The Bank of International Settlement NSFR rules go into effect for European banks at the end of June. Bullion banks are shorting and then covering. That is why the price sharply falls and immediately pops up. Gold follows multi-year cycles. Look at the cup-and-handle formation over the past decade. This is the second time it has occurred in the past 30 years. You have no idea how the gold market functions.
+1 Reply
plancton0618 braingirl1994
@braingirl1994, feel free to paste your chart here, thanks for sharing your vision with us 🦐
plancton0618 braingirl1994
@braingirl1994, seems i have an idea
I always appreaciate your intput on XAUUSD
Well done!
+1 Reply
plancton0618 SignalProvider
@SignalProvider, appreciate it 🦐
Agreed, thanks for sharing
+1 Reply