More chances for a bearish continuation, what is confirmed by a recent multi time frame price action research, and important level zones
WEBINAR ON THE SUBJECT AT 09:00 GMT :
youtube.com/c/marenno
Reviewing the most recent PA 1&2 period patterns we have:
1W Bearish Pattern
1M 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 WR4
1H WR7
1D NR4
1M WR4
1M 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 108.154
Option level Higher then the last day Close is R3 94.900
Option level Higher then the last day Close is R2 106.352
Option level Higher then the last day Close is R1 105.001
Option level lower then the last day Close is S1 104.320
Option level lower then the last day Close is S2 103.757
Option level lower then the last day Close is S3 102.120
Option level lower then the last day Close is S4 101.067
Session (current session only)
r3 106.773
r2 106.284
r1 105.796
p 104.883
s1 104.395
s2 103.482
s3 102.994
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.
WEBINAR ON THE SUBJECT AT 09:00 GMT :
youtube.com/c/marenno
Reviewing the most recent PA 1&2 period patterns we have:
1W Bearish Pattern
1M 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 WR4
1H WR7
1D NR4
1M WR4
1M 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 108.154
Option level Higher then the last day Close is R3 94.900
Option level Higher then the last day Close is R2 106.352
Option level Higher then the last day Close is R1 105.001
Option level lower then the last day Close is S1 104.320
Option level lower then the last day Close is S2 103.757
Option level lower then the last day Close is S3 102.120
Option level lower then the last day Close is S4 101.067
Session (current session only)
r3 106.773
r2 106.284
r1 105.796
p 104.883
s1 104.395
s2 103.482
s3 102.994
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.