02/04/22
THE FORECAST FOR WEEK 1 APRIL 2022 IS = BULL
DAYS
PROBABILITY OF DAYS FOR WEEK 1 APRIL 2022 = BULL
This Monday produced a large pin bar (north facing) candle, the body was also quite decent. Volume was high on this day. Tuesday produced a inside bar bear candle with a smaller tail to the north and a larger tail to the south, a volume equal to Monday. Wednesday another bear candle, it broke the inside bar, it has a larger body than Tuesday, with smaller tails on either end, the volume was lower again. Thursday, another Bear candle, smaller body, small south-facing tail, larger north facing tail, declined volume. Friday was a bull candle that engulfed Thursday and the body closed over 50% on Wednesday's body. There was no tailon the bottom, note the volume was low and the price movement high. A sign the restracement is over.
WEEK
PROBABILITY OF DAYS FOR WEEK 1 APRIL 2022 = BULL
This week had quite high volume, not seen since May 2021. The candle is a falling star, this can be a reversal sign. The day chart does not indicate the Bears are in control although it did have three straight days of nice bear candles. Fridays candle looked like in squashed what three bear candles normally means. The OBV is trending up nicely.
Some other notes; this price point is in a key resistance and space price range, used many times. There have been falling stars at or around this point, they have no decisive direction they have favoured. Remvoign the falling star candle from the equation I can use the OBV and the high buy volume as evidence to support the probability of at least one more Bull candle.
THE FORECAST FOR WEEK 1 APRIL 2022 IS = BULL
DAYS
PROBABILITY OF DAYS FOR WEEK 1 APRIL 2022 = BULL
This Monday produced a large pin bar (north facing) candle, the body was also quite decent. Volume was high on this day. Tuesday produced a inside bar bear candle with a smaller tail to the north and a larger tail to the south, a volume equal to Monday. Wednesday another bear candle, it broke the inside bar, it has a larger body than Tuesday, with smaller tails on either end, the volume was lower again. Thursday, another Bear candle, smaller body, small south-facing tail, larger north facing tail, declined volume. Friday was a bull candle that engulfed Thursday and the body closed over 50% on Wednesday's body. There was no tailon the bottom, note the volume was low and the price movement high. A sign the restracement is over.
WEEK
PROBABILITY OF DAYS FOR WEEK 1 APRIL 2022 = BULL
This week had quite high volume, not seen since May 2021. The candle is a falling star, this can be a reversal sign. The day chart does not indicate the Bears are in control although it did have three straight days of nice bear candles. Fridays candle looked like in squashed what three bear candles normally means. The OBV is trending up nicely.
Some other notes; this price point is in a key resistance and space price range, used many times. There have been falling stars at or around this point, they have no decisive direction they have favoured. Remvoign the falling star candle from the equation I can use the OBV and the high buy volume as evidence to support the probability of at least one more Bull candle.
Note
Another accurate assessment, well done!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.