Moderately Overlapping Lower Value CPR Relationship (Descending CPR ) and Overlapping Value Camerilla3 (Descending DC3) Can be considered as Unchanged Value Relationship as well as the DPR (for 27Jul21) is slightly lower than the yesterday's CPR (26Jul21).
Candle Close: Below Both Prior Day's CPR (26th) and tomorrow's CPR (27th)
Initial Bias: Moderately Bearish /Sideways(Price bouncing between H3 and L3 Camarilla) CPR Width: Unchanged and it's is width is similar to 26th CPR Width
- Unchanged value infers a Sideways move similar to 26th (Price bouncing between H3 and L3 Camarilla)
Overlapping Lower Value Combinations:
Plan A1 (Moderately Bearish ) : If Opening/ 5-Min Candle opens between CPR (15831-15845) and S1(15783), Wait for a pull back to CPR and Take a SHORT Entry upon BEARISH Candle Confirmation. Target can be S1 or between 50% of S1 and S2. This should be a quick scalp opportunity. To be precisely, one can book Profit at L3 15798 as it's a PDL as well.
Plan A2 (Extremely Bearish ): If Opening/ 5-Min Candle ( BEARISH ) closes below S1 (15783), Take SHORT entry upon the break of First 5 min's candle Low. One can place a SHORT or SELL STOP LOSS Order below Day's low if the first 5 min candle closes below S1 and there is a consolidation happening around S1. Railway Track Pattern (RTP) works very well in this case.
Plan A3 (Moderately Bearish ): If first 5-Min candle closes above CPR (15831-15845), then Price may take RESISTANCE at R1(15880) and continue it's down-ward move. Observe Candlestick formation and take SHORT Entry upon BEARISH Candle Confirmation at R1 (15880). Target can be 2R (2 times Risk) or CPR or use trailing SL.
Bullish Combinations:
Plan B1 (Moderately Bullish ): If first 5-Min candle closes above CPR (15831-15845) and Break R1 (15880) and PDH decisively, then reduce trading capital to 50% and take a LONG entry based on the BULLISH Candle confirmation at R1. Can apply RTP Technique.
Plan B2 (Extreme Bullish ): Candle opens/First 5-Min Candle above R1 (15880) with a GAP-UP and above PDH, Price may take Support at R1(15755)/PDH and move it's up-ward journey. Take LONG Entry upon BULLISH Candle Confirmation at PDH.
Strategies to be deployed: - Open Drive ( Bearish ) - Open Drive Rejection (Bearish) - Pivot Pressure Trade - PPT ( Bearish / Bullish ) - M Pattern ( Bearish ) - W Pattern ( Bullish ) - Swing b/w H3 and L3 - Virgin CPR Reversal
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
Nice explanation. KEEP UP THE GOOD WORK. also can you share What is this RTP pattern?
priceactionking_4u
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@architk, Thank you sir... Appreciate for taking the time in providing the feedback.. Here is the description about RTP Theory:
The Railway-Line Theory uses two moving average lines that cross over and run parallel to each other, just as railway tracks do.
The two parallel lines could be slanting either upward and give us a long trade, or downward and give us a short side trade.
This theory will give us entry in the early stages of a confirmed trend, keep us in the trade for a decent run, and show us when to exit without giving back our earned profit.