During the whole month of September, there was a formation of an ascending intermediate-term model, which is a strong impulse. This allows you to consider the depreciation for the search for favorable prices for the purchase of tools.
Medium-term plan.
The basis for the construction of a trading plan in the middle of this week is the pair's exit beyond the monthly average. This speaks in favor of the formation of a return model in the case of the formation of a reversal pattern on the younger timeframe. The purpose of the return is a month-long short-term check on 148.71-147.98, on the upper boundary of which is the weekly short-term fault of 149.03-148.65. According to statistics, the probability of return to the specified zones is 90%, therefore, it is necessary to search for profitable prices for the sale when forming the reversal model on the junior timeframe.
An alternative model will develop if the pair can absorb the fall of the first half of the week and gain a foothold higher in one of the American sessions. This will open the way to updating the monthly maximum.
Intraday plan.
On Monday, the reversal pattern occurred after the pair was able to consolidate below the NCP 1/2 150.93-150.74. The goal of the downward movement remains a week-long short-term strike of 149.03-148.65. Defining resistance is the NCP 1/2 151.81-151.62. While the pair is trading below this zone, the downward movement will remain a priority. To resume growth, the closure of one of the American sessions above 151.81 level will be required. This will open the way for growth to weekly short-term fault of 153.90-153.52.
The daily short-term fault is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.
The weekly short-term fault is the weekly control zone. The zone formed by important futures market marks, which change several times a year.
The monthly short-term fault is the monthly control zone. The zone, which is a reflection of the average volatility over the past year.
