Average ((V+OI)/2) is positive, so most of the market participants do have a view on the instrument, knowing that most market participants can be wrong, it has to be similar to your own opinion to follow this direction, in case of this report, direction has to be the same with my MTFFC's direction
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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:
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:
4H WR4; 1W NR4; 1W NR7;
How to count option levels: http://marenno.com/index.php/counting-op...
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 1.32069
Option level R3 1.31829
Option level R2 1.31679
Option level R1 1.31469
Option level S1 1.31249
Option level S2 1.31249
Option level S3 1.31089
Option level S4 1.30849
Session (current session only) levels:
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.
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.