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:
1D 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:
4H WR4
4H WR7
1D WR4
1D WR7
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 1.38370
Option level Higher then the last day Close is R3 1.36120
Option level Higher then the last day Close is R2 1.33710
Option level Higher then the last day Close is R1 1.33380
Option level lower then the last day Close is S1 1.30750
Option level lower then the last day Close is S2 1.30420
Option level lower then the last day Close is S3 1.29330
Option level lower then the last day Close is S4 1.26770
Session (current session only) levels:
r3 1.37122
r2 1.35386
r1 1.33649
p 1.32752
s1 1.31015
s2 1.30118
s3 1.28381
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:
1D 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:
4H WR4
4H WR7
1D WR4
1D WR7
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 1.38370
Option level Higher then the last day Close is R3 1.36120
Option level Higher then the last day Close is R2 1.33710
Option level Higher then the last day Close is R1 1.33380
Option level lower then the last day Close is S1 1.30750
Option level lower then the last day Close is S2 1.30420
Option level lower then the last day Close is S3 1.29330
Option level lower then the last day Close is S4 1.26770
Session (current session only) levels:
r3 1.37122
r2 1.35386
r1 1.33649
p 1.32752
s1 1.31015
s2 1.30118
s3 1.28381
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.
