I'm interested in learning more about methods people use to estimate the upcoming week's bias for any pair.
Like at the end of trading on Friday how do you answer with fairly high certainty whether a pair will be more likely to be bullish, bearish or neutral for the upcoming week. And are you accurate most of the time?
EDIT:
I'd like to add that I'm trying to add this analysis to my trading system. My system is fairly simple, I use price action and support/resistance on the 4H timeframe. I would like to further my knowledge on interpreting future bias to stay out of trades in the opposite direction of bias or when it is neutral.
For example... here is my starting point.
If ADX > 40 or > 20 but < 40 with a positive slope then look at EMA's. If EMA order is 200>100>50 then bias is bearish and if EMA order is 50>100>200 then bias is bullish. If that order is mixed at all then bias is neutral.
However, if ADX is < 20 or > 20 and < 40 but negative slope then what would you look at to determine trend, or would you just say the pair is neutral until the above scenario appears?
Like at the end of trading on Friday how do you answer with fairly high certainty whether a pair will be more likely to be bullish, bearish or neutral for the upcoming week. And are you accurate most of the time?
EDIT:
I'd like to add that I'm trying to add this analysis to my trading system. My system is fairly simple, I use price action and support/resistance on the 4H timeframe. I would like to further my knowledge on interpreting future bias to stay out of trades in the opposite direction of bias or when it is neutral.
For example... here is my starting point.
If ADX > 40 or > 20 but < 40 with a positive slope then look at EMA's. If EMA order is 200>100>50 then bias is bearish and if EMA order is 50>100>200 then bias is bullish. If that order is mixed at all then bias is neutral.
However, if ADX is < 20 or > 20 and < 40 but negative slope then what would you look at to determine trend, or would you just say the pair is neutral until the above scenario appears?