US markets rising up from the Quarterly lows and moving into a 'bottom-to-top' Weekly 5-day pattern.Even though the expectation is that price can move higher into Friday, there is always 1 day that can turn around and move against the overall trend, as was the case last week, and the possibility this week.
3 days up in a row, and the probability of a daily reversal has increased....
This week's high probability pattern was longs above the Weekly 50% level up into the 3-day high, and any break of the 3-day high and the potential to follow the daily dynamics higher each day are probability patterns.However for 'day-trading' there isn't any high probability pattern, it's simply judging the daily risk parameters using past 5-day ranges....
Whilst above Wednesday's high, expectation that price will move up into Thursday...
Below Wednesday 5-day high, and it's moving down:- 5-day 50% level and then the previous breakout of the 3-day range....
Use 5-day levels as risk parameters....
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