XAUUSD @ Crispy Potato20/03/22
COMBINED FORECAST FOR WEEK 4 MARCH 2022 = BEAR
DAYS OF FEB
WEEK 3 OF MARCH FORECAST WAS = BEAR = ACCURATE
PROBABILITY FOR NEXT WEEK = BEAR
The week opened with two solid Bear candles, with little to no tails, indicating strength of Bear momentum. Wednesday candle is a small Bull pin bar, this day the volume was the largest for the week. Thursday the volume begins dropping of (still exceptionally high), it is a bull candle but the body is small. Friday produced a Bear candle. The volume has been steadily declining as it attempt to return to normal ranges. Draw a line across the lows of the recent long bull rally (prior to sharp spike, a trending support line existed but Tuesday candle dipped below that line. Given the dropping volume and the the decent Bear candle size compared with the Bull candles, it is probable the Bears will see out this week. There is a resistance line off around May/June of 2021, it is around 1906, it may hover at this price.
WEEKS OF MARCH
WEEK 3 OF MARCH FORECAST WAS = NO ASSESSMENT = NUETRAL
PROBABILITY FOR NEXT WEEK = BEAR
This week produced a large Bear candle, its size is approximately similar to the 2nd week ago. This pattern produced, of the last three weeks, near a high point, is often met with additional Bear candles. OBC cannot be considered, it is too volatile. The volume is steadily declining. It is probably the candle will be Bear of some sort. It may not be one to hold on to for the whole week, choosing the entry will be key to obtaining profits.
