ACDC ETF @ CRISPY POTATOAPRIL PROBABILITY = BEAR
Last month produced a large pin bar. The volume of this pin was higher than previous Bear month candles. This pin bar can `be a sign of lower prices because of how far it went down. Conversely, it could be a complete rejection. Given the steepness of the previous rise, I see it has potential for Bears. The OBV is showing a Bearish alignment to the chart. This section of the chart has a bear sentiment to it. For this reason, I see the Bears have a higher probability when looking at the Month chart.
Moving to the Week chart. The first week of March finished as a pin bar/hammer after it broke for the semi-sideways trend it had been stuck in. Before the breakout, there were three inside bars and then a solid Bear candle. Basically, the Bear candles continued until that first week of March when we had the pin bar/ hammer. March pretty much was Bull for the rest. These three Bull candles had the potential to bring the chart back to the Bulls but, when assessing this chart, the first week of April has been Bear but it is only Wednesday so it has two more candles for week 1. If this week finishes a decent bear candle it is probably the ETF will be Bear for the April month.
