GOLD on a double bottom 🦐
Updated
XAUUSD on the 4h chart turned perfectly at the 0.886 Fibonacci level and is trading now above the 0.786.
The price retest the 0.886 Fibonacci level creating a potential double bottom after a downtrend.
We can expect during this week a further move to the upside and a test of the 0.5 area.
How can I approach this scenario?
I will wait for the EU market open and if the market will satisfy the Academy rules I will set a nice long order.
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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 retest the 0.886 Fibonacci level creating a potential double bottom after a downtrend.
We can expect during this week a further move to the upside and a test of the 0.5 area.
How can I approach this scenario?
I will wait for the EU market open and if the market will satisfy the Academy rules I will set a nice long order.
--––
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
Note
we ll wait next week for a clear break
Note
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