If my memory is not playing me up this could be done with old versions of Ubuntu but I can't find a way of doing it with 18.04.
Is there a way of doing it?
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You will see a "link" under the dragging hand badge while the folder is dragged as shown in the picture below.
If you drag the folder you want to link to, to a different folder, then the link will have the same name as the linked folder. The linked folder will have a black link arrow to show that it is a link.
If you create a link of a folder within the same parent folder the link will be called
Link to <Name of Folder>.
If you press Alt and drag-and-drop a little menu with copy, move, link, and cancel appears:
Hope this helps