GOLD on the 4h chart reached the recent low at the 1615 level where the price inverted to the upside and tested the descending trendline.
The market creates a inverted Head and shoulder opportunity but we will need to see a right shoulder development in the next house to confirm the pattern.
How can i approach the scanrio?
If the price will break and close above the descending trendline ii can look for a nice long order according to the Plancton's strategy rules.
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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 market creates a inverted Head and shoulder opportunity but we will need to see a right shoulder development in the next house to confirm the pattern.
How can i approach the scanrio?
If the price will break and close above the descending trendline ii can look for a nice long 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
Commento:
moving to the upside
Commento:
a perfect confluence rejection
