XAUUSD looking for a deeper retracement? 🦐
Updated
GOLD on the 4h chart is providing us a deeper retracement outlook.
The price after the recent test of the weekly resistance is testing the 0.618. Fibonacci level above a dynamic support.
How can i approach this scenario?
I will wait for the European market open and check for a possible break of the trendline.
In that case, i will look for a nice short 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
The price after the recent test of the weekly resistance is testing the 0.618. Fibonacci level above a dynamic support.
How can i approach this scenario?
I will wait for the European market open and check for a possible break of the trendline.
In that case, i will look for a nice short 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
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