Hi Traders,
I am looking at the DAX today on the 4-Hour Chart.
We may have a potential Double Bottom forming currently.
We have nice divergence across the MACD Histogram.
I'm waiting either for the price to break out of the neck zone area with impulsive bullish volume to accompany it OR for the price to head down again and form a clearer second bottom.
Either or, patience is key.
I will not enter unless that neck zone is broken and the price closes above it.
We always wait for a retrace back into the neck zone before opening up a long position.
Let's see how this one plays out.
Have an awesome Wednesday traders!
The Vortex Trader
I am looking at the DAX today on the 4-Hour Chart.
We may have a potential Double Bottom forming currently.
We have nice divergence across the MACD Histogram.
I'm waiting either for the price to break out of the neck zone area with impulsive bullish volume to accompany it OR for the price to head down again and form a clearer second bottom.
Either or, patience is key.
I will not enter unless that neck zone is broken and the price closes above it.
We always wait for a retrace back into the neck zone before opening up a long position.
Let's see how this one plays out.
Have an awesome Wednesday traders!
The Vortex Trader