Short

# GBPUSD SHORT ENTRY LEVELS, EURO SESSION ONLY

FX:GBPUSD   British Pound / U.S. Dollar
43 0
More chances for a bearish continuation, what is confirmed by a recent multi time frame price action research, and important level zones

Next webirar (London time): 01/08/16 10:00 https://www.youtube.com/watch?v=Xx0hlQm5sGg

How to use levels - 1. Wait till the level is reached, 2. Reversal pattern, 3. Confirmation , 4. Entry, 5. Target (intraday) is a last level on the direction mentioned with arrows.
Reviewing the most recent PA 1&2 period patterns we have:

1D Bearish Pattern
1W bullish 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 WR4; 1W NR4; 1W NR7;
Learning material:
How to count option levels: http://marenno.com/index.php/counting-option-levels/
How to Filter out False reversal points:

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 R4 1.33400
Option level R3 1.33040
Option level R2 1.32900
Option level R1 1.32470
Option level S1 1.32070
Option level S2 1.32070
Option level S3 1.31780
Option level S4 1.31350

Session (current session only) levels:
r3 1.33306
r2 1.33016
r1 1.32727
p 1.32430
s1 1.32141
s2 1.31844
s3 1.31555

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
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.
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