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 of GBP / USD pair for September 21

September 21, 2018 Analytics

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Yesterday’s growth led to the test of two important target zones. The weekly control zone of 1.3312-1.3288 was reached, located within the monthly CP of September. This fact significantly increases the likelihood of a large offer.

Finding the price within the monthly CP indicates the need to close all purchases. The first support is the a control zone of 1.3237-1.3231. To form a reversal model, you may need to renew the weekly maximum, so the emergence of the demand for an opportunity to buy a tool.

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Sales from current marks do not yet have a favorable risk-to-profit ratio, as there is no formation of an absorption model, which indicates a high probability of a weekly maximum update.

The support will be made by the a control zone of 1.3177-1.3165, the test of which will allow obtaining favorable prices for the purchase. The ratio of risk to profit will be 1 to 3 for transactions in the specified zone with a stop not exceeding 30 points. This allows you to open long positions with limit orders or buy a pound through a pattern. The reversal model will be developed if the closing of today’s US session occurs below the level of 1.3165. This will allow us to look for favorable prices for the sale of the instrument on Monday.

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The daytime CP is the daytime control zone. The zone formed by important data from the futures market that change several times a year.

The weekly CP is the weekly control zone. The zone is formed by marks from important futures market which change several times a year.

The monthly CP is the monthly control zone. The zone 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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