Filtering out a false reversal points
Would like to share a very well confirmed with a time, way to filter out false reversal points for a good entry, with a very simple approach.
I have tried my best to place all the information on the chart.
Please feel free to ask me questions regarding subject.
Also please feek free to read an article on how to count option levels here:
marenno.com
Sincerely
Points
XAUUSD POSSIBLE LONG ENTRY POINTSMore chances for a bullish 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:
1M 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
4H WR4
1D NR4
1D NR7
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 1372.10
Option level Higher then the last day Close is R3 1356.90
Option level Higher then the last day Close is R2 1343.70
Option level Higher then the last day Close is R1 1343.60
Option level lower then the last day Close is S1 1337.80
Option level lower then the last day Close is S2 1323.80
Option level lower then the last day Close is S3 1317.40
Option level lower then the last day Close is S4 1301.80
Session (current session only)
r3 1360.60
r2 1351.60
r1 1342.60
p 1337.98
s1 1328.98
s2 1324.36
s3 1315.36
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.
EUR/USD Long Trade Clear VerficationDailyFX.com -
Highlight Points:
- Even more Fed-speak indicating hawkishness has continued the drive higher in the Dow Jones FXCM Dollar Index, and this has brought to question two previously strong trends in EUR/USD, but this strength hasn’t necessarily been even-handed: While EUR/USD appears to be on the cusp of establishing a new down-trend as major, long-term support levels come into play though last week’s price action in EUR/USD spent quite a bit of time in this vicinity, seeing price drop to this level on Wednesday only for markets to fight with it for the remainder of the week.
Famous Filtered Pivots Indicator - Many Time Frames Available!!!CM_Pivot Points_M-W-D-4H-1H_Filtered
***Special Thanks to TheLark...AKA...The Coding Genius For Providing His Expertise...
***New Feature - Ability to turn On/Off Pivot Moving Average
***New Feature - Ability to turn On/Off Filtered Pivots (Explained Below)
Available Timeframes (Change In Inputs Tab):
1 Hour
4 Hour
Daily
Weekly
Monthly
Yearly
***All Features Available in Inputs Tab
-Ability to Plot just 1, or all Pivot Timeframes
-Defaults to Monthly Pivots
-Ability to turn On/Off Pivot Moving Average
-Ability to turn On/Off Filtered Pivots
-Ability to Plot S3 and R3 on 1 Hour and 4 Hour Pivots
***FILTERED PIVOTS!!!
-THIS IS A WAY TO FIND THE HIGHEST PROBABILITY MOVES
-IF CURRENT PIVOT IS GREATER THAN PREVIOUS PIVOT (INCLUDING MARKET THRESHOLD CALCULATION) THEN PIVOT, S1, & R2 PLOT
-IF CURRENT PIVOT IS LESS THAN PREVIOUS PIVOT (INCLUDING MARKET THRESHOLD CALCULATION) THEN PIVOT, S2, & R1 PLOT
-***THIS IS A WAY TO FILTER OUT PIVOTS AND ONLY PLOT THE LEVELS THAT ARE EXPECTED TO BE MAJOR SUPPORT AND RESISTANCE
***VIDEO COMING SOON WHERE i WILL GO OVER IN DETAIL THE THOUGHT PROCESS AND METHODOLOGY
Link To Code Below Under Related Ideas