XAGUSD on the 4h chart reached the weekly resistance at the 22.300 level.
The price is now moving between the upper structure and a support area and some deeper retracement can be seen.
How can i approach this scenario?
I will wait for the EU market open and look for a possible break of the support area.
In that case, i will wait for the test of the 0.618 and check for a possible inversion to set a nice long order according to the Plancton's stragey 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 price is now moving between the upper structure and a support area and some deeper retracement can be seen.
How can i approach this scenario?
I will wait for the EU market open and look for a possible break of the support area.
In that case, i will wait for the test of the 0.618 and check for a possible inversion to set a nice long order according to the Plancton's stragey 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
Comment:
moving according to our analysis
Comment:
the market turned at the 0.382 and looking now for a break of the resistance
