Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Control zones GBPUSD 07/06/18

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The other day, a reversal pattern has emerged, which indicates a new upward priority. The consolidation above the NCP 1/2 1.3206-1.3192 makes it possible to buy from the nearest support zones.

Yesterday’s closing of the American session above the NCP 1/2 1.3206-1.3192 makes it possible to talk about changing the priority on the upstream. This opens up opportunities to buy from NCC 1/4 1.3202-1.3195 and NKZ 1/2 1.3130-1.3116. The ratio of risk to profit when buying from NCC 1/4, taking into account the take-profit setting for the weekly short-term 1.3336-1.3365 is 1 to 6. If the pair can fall to the level of 1.3130, then the most favorable prices for buying will be there. Both models must be considered separately from each other with stops tied to the zones.

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The pair is trading within the medium-term flat, which indicates the possibility of a large offer in the test of the weekly short-term and the retest of the significant June extremum formed in the twenties. Short trades are sidelined and are complementary in the case of large deals at the current levels. The first possibility of selling may appear today if the US session closes below the level of 1.3195. This will indicate the formation of a deeper correction model, but it will be possible to consider such a trade only on Monday.

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Daytime CP- daytime control zone. The zone formed by important data from the futures market, which change several times a year.

Weekly CP – weekly control zone. The zone formed by important futures market marks, which change several times a year.

Monthly CP – monthly control zone. The zone, which is a reflection of the average volatility over the past year.

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

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