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.
----- 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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moving according to our analysis
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the market turned at the 0.382 and looking now for a break of the resistance