The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Last week's movement made it possible for a local accumulation zone to form. This happened within the average monthly move, which indicates the presence of limit sell orders. Purchases from current levels are not profitable, since the probability of closing the trade in January is above the zone of the monthly move below 30%. A model has not yet been formed for selling, which indicates the need to switch to standby mode.
Keeping part of the purchases opened at the beginning of this month is the optimal strategy, since the probability of absorption of the latest growth from current levels is below 20%.
To enter a short position requires the formation of an absorption pattern at the daily level. Closing of trading on Monday should occur below the low of last week. This will indicate the appearance of a major offer from significant market players. Work in the downward direction is more profitable, since the monthly range of the average stroke has already been overcome by the pair....
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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