Wave pattern graphics H4:
The last wave area of the daily scale from February forms an upward wave zigzag. Wave H4 took the place of correction in it (B).
Wave pattern graphics H1:
The wave is rising, starting from September 21. It completes the larger wave model. In the last 2 months, a correction of the wrong type is formed within the framework of the structure.
Wave pattern graphics M15:
The descending section of November 13 completes the correctional wave of the older TF (M30). The structure lacks the final part (C).
Recommended trading strategy:
Conditions for shopping have not yet been created. It is necessary to wait for the completion of the current decline. In the framework of the intersessional trade, short-term sales are possible.
Resistance zones:
- 1.0000 / 1.0050
Support areas:
- 0.9870 / 0.9820
Explanations to the figures: The simplified wave analysis uses waves consisting of 3 parts (A - B - C). For the analysis, 3 main TFs are used. Incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal.
The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure, the dotted expected movement.
Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!
The material has been provided by InstaForex Company - www.instaforex.com