The bear market is continuing. The price has already reached the target zone №1 1.21653-1.21561 and it has a potential to reach the target zone №2 1.20733-1.20641. The best prices to try to have a short position are the control resistance zone 1.22677-1.22585. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.
It’s recommended to try to have a short position near the control resistance zone 1.22677-1.22585 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.
The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.
All zones are constructed on the basis of data from the CME futures market.