Could anyone please tell me if todays action in the Dax Index constitutes a key reversal? Open was the same as yesterdays close, we then made a higher high before closing below yesterdays low.....is this correct? regards
that would consistitute as a reversal watch the price action tomorrow as well How is the volume? If rally and low volume, that is a great sign, to look for an entry If continued selling, that is also fine, but risky to enter
The volume was good today...the 3 highest volume days of the last 10 days have all been on sell-offs. I expect a small bounce tomorrow but will sell into it. Thanks
OK, I got a PM saying that it wasn't a key reversal (because the open was not above the previous days high, only level with the previous close) but a reversal never the less... new question...only on the dax index (not the futures chart) is this now an island cluster? we saw the gap on the way up (May 4/5) and now we have the same gap (may11/12) on the way down....I am told this is also a powerful reversal signal. Thanks