More chances for a bearish continuation, what is confirmed by a recent multi time frame price action research, and important level zones.
Reviewing the most recent PA 1&2 period patterns we have:
1W Bearish Pattern
Knowing the patterns of a higher time frame is very important. Sometimes they can conflict one to another, but it gives us the information of the possible correctional moves, or a start of a new direction, so basically, every time when conflict exists, you must examine a chart whether it is a correctional pattern appearence or a new direction, shall you close the existing trade or open the new one, does it give you a new oportunity or shall you wait, and also rememver, that when the monthly pattern appeared, it means that it is valid till the current month is closed, as by the price action rules, the pattern is clear only at the close of the candle or a bar.
We also have to review the range of the closed period comparing to the previous set of periods, hours, weeks, months, etc... Here, I'm showing you a range compared to 6 and 3 previous periods, NR means Narrow range, WR means wide range, the number displays a total periods reviewed, if the NR is displayed, high possibility of the range expansion, in WR case it can be opposite. at the moment here's the situation:
1H NR4
4H WR4
4H WR7
Also I have decided to share a Levels, that take time to count, and you can use them as a bounce levels in a direction you trade:
Option level Higher then the last day Close is R4 1.13760
Option level Higher then the last day Close is R3 1.12400
Option level Higher then the last day Close is R2 1.11600
Option level Higher then the last day Close is R1 1.11360
Option level lower then the last day Close is S1 1.11170
Option level lower then the last day Close is S2 1.10460
Option level lower then the last day Close is S3 1.09530
Option level lower then the last day Close is S4 1.08750
Session (current session only)
r3 1.12407
r2 1.11962
r1 1.11518
p 1.11202
s1 1.10758
s2 1.10442
s3 1.09998
I really hope that sharing of my routine with you, will help you in your trading.
Also I really hope that in respect to my hard work, you will take time to use the data I share, you will put the levels on a chart, and will apply it to your trading.
Sincerely
Arturs Jermolickis
arthur@marenno.com
skype: marenno.business
A short - government required disclaimer:
I’m not providing any advice, and I do not guarantee any profit. What you see here is only a share of my view of the market.
Reviewing the most recent PA 1&2 period patterns we have:
1W Bearish Pattern
Knowing the patterns of a higher time frame is very important. Sometimes they can conflict one to another, but it gives us the information of the possible correctional moves, or a start of a new direction, so basically, every time when conflict exists, you must examine a chart whether it is a correctional pattern appearence or a new direction, shall you close the existing trade or open the new one, does it give you a new oportunity or shall you wait, and also rememver, that when the monthly pattern appeared, it means that it is valid till the current month is closed, as by the price action rules, the pattern is clear only at the close of the candle or a bar.
We also have to review the range of the closed period comparing to the previous set of periods, hours, weeks, months, etc... Here, I'm showing you a range compared to 6 and 3 previous periods, NR means Narrow range, WR means wide range, the number displays a total periods reviewed, if the NR is displayed, high possibility of the range expansion, in WR case it can be opposite. at the moment here's the situation:
1H NR4
4H WR4
4H WR7
Also I have decided to share a Levels, that take time to count, and you can use them as a bounce levels in a direction you trade:
Option level Higher then the last day Close is R4 1.13760
Option level Higher then the last day Close is R3 1.12400
Option level Higher then the last day Close is R2 1.11600
Option level Higher then the last day Close is R1 1.11360
Option level lower then the last day Close is S1 1.11170
Option level lower then the last day Close is S2 1.10460
Option level lower then the last day Close is S3 1.09530
Option level lower then the last day Close is S4 1.08750
Session (current session only)
r3 1.12407
r2 1.11962
r1 1.11518
p 1.11202
s1 1.10758
s2 1.10442
s3 1.09998
I really hope that sharing of my routine with you, will help you in your trading.
Also I really hope that in respect to my hard work, you will take time to use the data I share, you will put the levels on a chart, and will apply it to your trading.
Sincerely
Arturs Jermolickis
arthur@marenno.com
skype: marenno.business
A short - government required disclaimer:
I’m not providing any advice, and I do not guarantee any profit. What you see here is only a share of my view of the market.
