Dotted Blue Line - CPR
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
CPR of 13 Mar is way above of CPR of 12 Mar. Looks BULLISH
CPR is narrow, means it's going to be a trending day.
You can see that L3 and bottom of CPR being very close, meaning it will be very hard to break.
You can use R2-S1(upside) or S2-R1(downside).
Trading plan:
1.)If CPR is not crossed, look for upside. H3 needs to be crossed and will be more likely to touch H4 and beyond.
2.)If CPR is crossed, there would be a huge selling pressure and L5 should be the target.
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
CPR of 13 Mar is way above of CPR of 12 Mar. Looks BULLISH
CPR is narrow, means it's going to be a trending day.
You can see that L3 and bottom of CPR being very close, meaning it will be very hard to break.
You can use R2-S1(upside) or S2-R1(downside).
Trading plan:
1.)If CPR is not crossed, look for upside. H3 needs to be crossed and will be more likely to touch H4 and beyond.
2.)If CPR is crossed, there would be a huge selling pressure and L5 should be the target.
Comment:
CPR did not cross.H3 touched but market now in sideways market, instead of trending.
Comment:
would not recommend trading now, as it will be more likely that sideways market will continue and later erratic swings after 2.30 or something. No clear position can be taken.