This imputes a buy/sell ratio of 0, which is quite bearish.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
This is a reversal of the price action on the previous hour, in which price moved down.
For context, observe that yesterday was noteworthy in the sense that usdtry bested all 40 of the assets in the forex class.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
It’s been a feast for bulls operating on an hourly timeframe, as usdtry has now gone up 4 of the past 5 hours.
This imputes a buy/sell ratio of 1.33, which is bullish.