02/04/2022
THE COMBINED FORECAST FOR APRIL WEEK 1 2022 IS = BULL
DAYS
THE PROBABILITY OF DAYS FOR APRIL WEEK 1 2022 = BULL
This week produced a Doji for Monday, it became the last of a series of small candles from the previous week. Tuesday saw a decent Bull candle that engulfed all of last week. Its Close and High matched a previous high point. Wednesday was able to break that high point as it closed higher. Thursday did produce a Bear candle that rejected all of Wednesday's gains by engulfing it. It, however, did not penetrate more than10% of Tuesday's candle. Friday basically ran out of any puff that would confirm any Bull chance. Because of this, I see the Bulls actually have the higher probability for this week.
The OBV is trending in alignment with the chart
WEEK
THE PROBABILITY OF FOR APRIL WEEK 1 2022 = BULL
The week produces a Bull candle, it has a larger north-facing tail than it does a body, the tail about 2x longer. Only a small tail on the low side. It is an inside bar (technically speaking last week was also, but generally, I exclude inside bars when they break into the tail zone). The volume was higher than last week and the OBV is changing direction. There are now signs a reversal is forming but a solid candle body is needed, probably two of them. This week has more evidence of Bull candles than Bear candles.
THE COMBINED FORECAST FOR APRIL WEEK 1 2022 IS = BULL
DAYS
THE PROBABILITY OF DAYS FOR APRIL WEEK 1 2022 = BULL
This week produced a Doji for Monday, it became the last of a series of small candles from the previous week. Tuesday saw a decent Bull candle that engulfed all of last week. Its Close and High matched a previous high point. Wednesday was able to break that high point as it closed higher. Thursday did produce a Bear candle that rejected all of Wednesday's gains by engulfing it. It, however, did not penetrate more than10% of Tuesday's candle. Friday basically ran out of any puff that would confirm any Bull chance. Because of this, I see the Bulls actually have the higher probability for this week.
The OBV is trending in alignment with the chart
WEEK
THE PROBABILITY OF FOR APRIL WEEK 1 2022 = BULL
The week produces a Bull candle, it has a larger north-facing tail than it does a body, the tail about 2x longer. Only a small tail on the low side. It is an inside bar (technically speaking last week was also, but generally, I exclude inside bars when they break into the tail zone). The volume was higher than last week and the OBV is changing direction. There are now signs a reversal is forming but a solid candle body is needed, probably two of them. This week has more evidence of Bull candles than Bear candles.
Comment:
Well this was a flop, and in hindsight, I missed the strength of the downward trend.