GOLD on the 4h chart is testing a resistance level at the 1910 area below a weekly resistance.
The price after the spike at the 1970 level close the last week's candle below the structure and we can expect some bullish continuation due to the uncertain economic situation.
How can we approach this scenario?
Currently, we can notice an accumulation below the interested area and the bull pressure on the weekly resistance can further increase during this week.
If the break will happen we will monitor the price and consider a long order if our Academy rules will be satisfied.
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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 after the spike at the 1970 level close the last week's candle below the structure and we can expect some bullish continuation due to the uncertain economic situation.
How can we approach this scenario?
Currently, we can notice an accumulation below the interested area and the bull pressure on the weekly resistance can further increase during this week.
If the break will happen we will monitor the price and consider a long order if our Academy rules will be satisfied.
--––
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:
symmetrical triangle
Comment:
tp4 reached easily
