empty
 
 
04.11.2019 07:54 AM
Control zones GBPUSD 11/04/19

The close of trading in October occurred far beyond the monthly average progress. The main direction of trading is falling. Despite the fact that the upward movement is a medium-term impulse, the probability of a return to the level of 1.2725 is 90%. Thus, this makes it possible to consider the decline as the basis for building a trading plan.

This image is no longer relevant

It is important to find the entry point by a simple pattern. Today, a false breakdown of the Friday extremum can become such a pattern.

An alternative model will be developed if the closing of today's trading occurs above the Weekly Control Zone 1/2 1.2999-1.2980. This will indicate the continuation of the upward impulse. It is not profitable to buy from the current levels, as the probability of a downward corrective movement to return to the monthly short-term is too high. Purchases, in turn, will become profitable after the decline to Weekly Control Zone 1/2 1.2820-1.2801.

This image is no longer relevant

Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.

Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.

Samanta Kruder,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback