Control zones USD/JPY Oct 4, 2019

analytics5d96eaa66df24.png

Today’s plan is to find a favorable price for the purchase of the instrument, as the pair is trading below the average weekly rate. The best price is within the weekly control zone 106.50-10631. The formation of the “false breakdown” pattern of yesterday’s minimum will allow us to enter into corrective purchases.

It is important to note that the downward movement is an impulse. Therefore, any growth in the medium term should be considered as an opportunity to get favorable prices for the sale of the instrument.

An alternative decline model has a probability below 30%, which makes sales from current marks unprofitable. To enter a short position, growth to one of the correction zones will be required again.

analytics5d96eabe75e92.png

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.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Control zones USD/JPY 10/04/19

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*