Average ((V+OI)/2) is in the overbought zone so the possibillity of the reversal/continuation is high
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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.
Currently there are no clear patterns on a chart (it doesn't mean that there are no level limit entries and places for stop entries)
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; 1W NR4; 1W NR7; 1M NR4; 1M 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 1356.70
Option level R3 1353.70
Option level R2 1353.20
Option level R1 1353.20
Option level S1 1347.80
Option level S2 1343.20
Option level S3 1340.10
Option level S4 1336.50
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.