Deal with EUR/MXN.
As of 12/05/2023, one of the possible scenarios for the development of the dynamics of quotations of the EUR/MXN currency pair could be a model according to which in the fractal structure after the completion of the fractal on the time interval (06/13/2018; 11/04/2022), indicated in red and being 1- The 1st segment per unit higher order of the blue fractal, the formation of the 2nd segment of the blue fractal, indicated in purple on the time interval (11/04/2022; 02/25/2024) has been underway since November 4, 2022 (Fig. 12-1).
The 1st segment of the red fractal was formed on the time interval (06/13/2018; 02/20/2020) in the form of a fractal, which is indicated in pink. The 2nd segment of the red fractal was formed on the time interval (02/20/2020; 08/04/2020) in the form of a fractal, the segments of which are indicated in dark green. The 3rd segment of the red fractal was formed in the time interval (08/04/2020; 11/04/2022) in the form of a light green fractal.
At the moment, it seems most likely that the 2nd segment of the blue fractal will be formed in the fractal structure in the form of fractal F№12 (from the Niro Alphabet), which is indicated in Fig. 12-1 in purple.
Based on the above assumptions, we can say that the current dynamics of EUR/MXN quotes are in the stage of formation of the 3rd segment of the blue fractal, which is the 1st segment of a fractal of a higher order, indicated in purple (Fig. 12-2).
In this case, the 1st segment of the blue fractal was formed on the time interval (11/04/2022; 04/26/2023) in the form of a gray fractal. The 2nd segment of the blue fractal was formed on the time interval (04/26/2023; 08/25/2023) in the form of an orange fractal (Fig. 12-2).
It seems most likely that EUR/MXN quotes will rise to 21.45 as part of the formation of the 3rd segment of the fractal, which is indicated in bright green. The completion of the bright green fractal will mean the completion of the 3rd segment of the blue fractal and the completion of the 1st segment of the violet fractal.
In this regard, a decision was made to open a long position on the EUR/MXN instrument on the “marketforecast” account at the current quote of 18.94212 with a volume of 0.01 lot (Fig. 12-3).
More to come.
You can learn about the modeling method in the article “Apophenia as an apologist for clairvoyance in capital markets”.
You can familiarize yourself with the alphabet for reading graphs by watching the short video “Alphabet of Niro Attractors”.
You can monitor transactions carried out on your accounts online by following the links posted on the costforecast website in the “trading signals” section: https://costforecast.bitrix24.site/tradingsignals-en/
Read all Diary entries on the costforecast website at the link: https://costforecast.bitrix24.site/blog1-2-en/
