GBP 15:30
Here is a perfect example of conflicting patterns:- I wanted to trade longs off the 5-day 50% level with matching brown filter..
So far so good...and the short-term UP target is the 3-day filter
Because I'm using 240 minute bars, I have a rough guesstimate that price should push up from 15:00 until 19:00, hopefully it will reach my target...
A bullish pattern can continue higher from 7.00pm:- if it was in a BULL trend it would be much more robust but it's not.
It's a bear trend....
My odds begin to swing against me even though I'm in the money after 19:00 if price starts to trade below the filter.
Note:- this is just a intra-day pattern within the 3-day cycle that could provide a 41 pip return and more, but it's not a Major probability pattern within the Weekly trend.
