02/04/22
THE FORECAST FOR WEEK 4 MARCH 2022 IS = NEUTRAL
DAYS
PROBABILITY OF DAYS FOR WEEK 4 MARCH = PROBABILITY NEUTRAL
This week produced a Bear candle for Monday, it is a candle with a solid body, with basically no tails, this is setting the tone that higher prices will not be considered this week. Tuesday produced a Hammer signal, the tail protruding just beyond the last tail that did this. The volume on Tuesday was the highest for the week. This shows indecision. Wednesday and Thursday attempted to the Bulls to the influencer but this did not work. Instead, Friday produced another Bear candle. It is small and volume matching for Thursday. This continues the sideways trend on the Day chart.
I inspected the 4 hr chart and the OBV has a level high which diverges from the highs on the chart, It also is trending slightly Bull. This says there is a slightly high Bull influence.
I inspected the 2hr chart and the OBV with the chart. The close of Friday vs the low on Tuesday is producing this same low on the OBV, showing the trend has a bear influence.
WEEK
PROBABILITY OF DAYS FOR WEEK 4 MARCH = BEAR
This week produced a Bear candle, it is similar to last week's Bull candle in dimensions. The volume was higher though. The volume and chart are not sandwiching the Bull candle and Buyers. This indicates the Bears have the edge. There is another reason to see that the reversal has a good probability. The last 3 high candles; A Big Bull, Falling Star, and a Big Bear candle at a high point. Those when combined are a reversal.
THE FORECAST FOR WEEK 4 MARCH 2022 IS = NEUTRAL
DAYS
PROBABILITY OF DAYS FOR WEEK 4 MARCH = PROBABILITY NEUTRAL
This week produced a Bear candle for Monday, it is a candle with a solid body, with basically no tails, this is setting the tone that higher prices will not be considered this week. Tuesday produced a Hammer signal, the tail protruding just beyond the last tail that did this. The volume on Tuesday was the highest for the week. This shows indecision. Wednesday and Thursday attempted to the Bulls to the influencer but this did not work. Instead, Friday produced another Bear candle. It is small and volume matching for Thursday. This continues the sideways trend on the Day chart.
I inspected the 4 hr chart and the OBV has a level high which diverges from the highs on the chart, It also is trending slightly Bull. This says there is a slightly high Bull influence.
I inspected the 2hr chart and the OBV with the chart. The close of Friday vs the low on Tuesday is producing this same low on the OBV, showing the trend has a bear influence.
WEEK
PROBABILITY OF DAYS FOR WEEK 4 MARCH = BEAR
This week produced a Bear candle, it is similar to last week's Bull candle in dimensions. The volume was higher though. The volume and chart are not sandwiching the Bull candle and Buyers. This indicates the Bears have the edge. There is another reason to see that the reversal has a good probability. The last 3 high candles; A Big Bull, Falling Star, and a Big Bear candle at a high point. Those when combined are a reversal.
Note
This forecast was pretty dam close. The week was mostly neutral up until just before it closed. Pretty dam good assessment here.
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.
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.