The daily trading plan does not involve searching for an entry to sell, as the pair is trading outside the monthly short-term. Despite the strength of the momentum, sales from the current levels are no longer profitable. In 90% of cases, there will be a return to the monthly CZ of August, which will make it possible to earn on purchases.
An alternative model of decline has a low probability, however, such strong momentum, without visible support levels, may continue. For this reason, you should not enter a purchase without a formed pattern. The first pattern that can be considered today is a "false breakdown" of Friday's minimum. If the breakdown leads to the absorption of Friday's fall, then the entrance to the purchase will be justified.
Daily CZ - daily control zone. An area 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. An area that reflects the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com