Reviewing the most recent PA 1-2 period patterns:
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4H Bearish Pattern
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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.
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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:
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1H NR4
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| 1H NR7 |
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4H WR4
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| 4H WR7 |
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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:
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Option level Higher then the last month high is
| 1.14230
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Option level Higher then the last week high is
| 1.14230
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Option level Higher then the last day high is
| 1.13220
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Option level lower then the last day low is
| 1.12410
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Option level lower then the last week low is
| 1.12410
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Option level lower then the last month low is
| 1.11070
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Also a session (current session only) pivots:
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r3
| 1.13795
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r2
| 1.13364
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r1
| 1.12932
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p
| 1.12693
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s1
| 1.12261
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s2
| 1.12022
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s3
| 1.11590
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I really hope that sharing of my routine with you, will help you in your trading.
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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.
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Sincerely
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Arturs Jermolickis
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[email protected]
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skype: marenno.business
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A short - government required disclaimer:
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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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