Last time I shared with you an analysis on Dow Jones.
We did not see a confirmation from the smaller timeframes and it was clear to me that a re-bounce is due.
And this is exactly what happened.
Here is what I was looking for initially:
Instead, price just went higher without the candlestick confirmation.
Here is what happened:
Price just made a quick reversal without printing a bearish candlestick rejection.
I teach about all of these formation in my Day Trading programme. Check if there is still availability for this month.
DAX Trading Analysis 22.11.2022
Today, I am looking at the German stock market DAX.
It looks like the bears might be ready to take things into their hands.
There has been a bullish move in the past few weeks.
Yesterday’s daily candle was an inside bar.
This usually bodes well for the bears.
So, I will not be surprised to see the price taking south from here.
Before that happens, I would ideally like to see a confirmation from the 4H timeframe, as described above.
Before that happens, I will be patiently waiting.
Did you read my article on the Double Bottom pattern and how you can incorporate it in your own trading?
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