We got the expected RED March close but it was a close thing.
but, this creates better Odds for a continued push to ATH.
We have had only 3 occasions when we had a Green Jan, Red Feb, Red March ( arrows)
2 of those went on to an ATH the following Year !
The other one was entering a Bear Market.
Of the previous 7 RED March Closes, 5 were followed by a Green April
And of those 5, 4 were followed by consecutive Green candles closes for the following Months.
As you can see, April, May and June do have more GREEN closes than Red on average but May and June is near 50/50
It could be said that March Candle close was a "Spinning Top", showing in-balance / indecision in the market. This is possibly driven by Macro events.
We had a similar situation in 2012 and April was Green, as were the following months.
We had 2 other occasions with small Red candle bodies in March, both were Hammer Candles, one inverted, that led to a red April, the other was not and let to a green April.
The March close we just had, had a Long Upper Wick. To me, this shows the BEARS had the upper hand, keeping driving down.
And thats OK, PA needed to reset but we now need a GREEN April
Statistically, April should close Green - We currently have a Score of 8 Green to 5 Red month closes for April.
April seems to have opened GREEN and I hope to see it close that colour though we do need Caution
Because of the Colour sequence over recent months, there are not many comparisons to use.
but, this creates better Odds for a continued push to ATH.
We have had only 3 occasions when we had a Green Jan, Red Feb, Red March ( arrows)
2 of those went on to an ATH the following Year !
The other one was entering a Bear Market.
Of the previous 7 RED March Closes, 5 were followed by a Green April
And of those 5, 4 were followed by consecutive Green candles closes for the following Months.
As you can see, April, May and June do have more GREEN closes than Red on average but May and June is near 50/50
It could be said that March Candle close was a "Spinning Top", showing in-balance / indecision in the market. This is possibly driven by Macro events.
We had a similar situation in 2012 and April was Green, as were the following months.
We had 2 other occasions with small Red candle bodies in March, both were Hammer Candles, one inverted, that led to a red April, the other was not and let to a green April.
The March close we just had, had a Long Upper Wick. To me, this shows the BEARS had the upper hand, keeping driving down.
And thats OK, PA needed to reset but we now need a GREEN April
Statistically, April should close Green - We currently have a Score of 8 Green to 5 Red month closes for April.
April seems to have opened GREEN and I hope to see it close that colour though we do need Caution
Because of the Colour sequence over recent months, there are not many comparisons to use.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.