DayFarrell
Long

EURUSD DAILY CANDLE PREDICTION TEST.

FX:EURUSD   Euro/U.S. Dollar
OK, SO LAST WEEK I MENTIONED THAT I FIGURED A STRATEGY TO PREDICT THE NEXT CANDLE. I MUST CLARIFY THAT I WAS REFERRING TO A SCALPING STRATEGY, AND I'VE ONLY USED IT ON A 5 MIN CHART SO FAR. SO I RECEIVED A CHALLENGE FROM SOMEONE TO DO IT ON A DAILY CANDLE, SO THIS IS MY FIRST ATTEMPT TO DO SO.
PLEASE KEEP IN MIND, THAT THIS PREDICTION IS IN NO WAY ME PREDICTING THE FUTURE, IT IS BASED SOLELY ON ANALYSIS, WITHOUT PSYCHOLOGY. SO WHETHER IT GOES RIGHT OR WRONG IS NOT MEANS TO BE EXCITED OR DISAPPOINTED.
PLEASE REMEMBER, THIS IS NOT MEANT FOR TRADING, IT IS ONLY A TEST!!! I DON'T WANNA BE HELD RESPONSIBLE FOR ANY LOSSES.
Well done DayFarrell, this was actually a very good direction prediction with 80% move accuracy, and as you said greed made an extra mid resistance level to be broken.
+1 Reply
DayFarrell BernardDi Natale
yes you're welcome, i'm still working to get it better. cheers!
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the day is over and my predicted candle have been over shot a bit by the actual candle, i'm not sad that this happened, the strategy i use gives me 3 options for the next candle, and each different in range, my philosophy, is that it's safer to stick with the smallest candle. this time around, i went with the second, but i guess human greed was more progressive than i thought. my strategy is centered around greed, it's a way to determine human greed currently, and then calculate it for the next stage before it happens, and because humans tend to behave in patterns, i can project this behavior more easily. The surprising part is, i always go with the smaller candle, but it always overshot ever since i've been using this strategy. but my aim was to take the probability out of trading, so to do so competently, i'll have to continue and stick with the lowest until i figure how to calculate the increasing rate the i keep seeing. sticking with my current model is not bad, that is 105 pips in this prediction, so it is profitable. i this strategy on the smaller time frames because i can get much more out of a day, but i see where the day can be desirable, instead of always being at your pc.
thanks for your challenge Jimfred,
i will try again next some other time.
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THE RECTANGLE WITH THE LINE IS A REPRESENTATION OF A CANDLE
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What is the prediction?
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Ii was asked to predict a daily candle, so i tride to plot it as best as i could.
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