TomPip
Short

GER30 Was the recovery strong enough after the quick sell off?

FX:GER30   DAX index of German listed shares
114 4 3
I'm thinking this sell off needs a double V confirmation before it heads off higher. Time will tell.

I'm currently on the sideline playing only small scalps. No big entries at the moment.
Agreed, surely price isn't going to rally after just a single bounce, there needs to be more buyers entering long after such a sell-off. I believe this is just traders assuming long positions, we'll see a drop and then more buyers will enter long.
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TomPip Chartster
I think the main issue i have with this bounce is the weak momentum it had initially. Inverted hammer on a very important trendline. Not sure if that will do. But then, i don't think it has time to make another V this week. How will weekly look is what i'm thinking. Maybe a Weekly doji bottom.
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Could very well be, either this week or next I'd like to see price fall back to around 10k before it moves up further. Unless something drastic happens which I very much doubt this weeks weekly candle is going to close very bullish.
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Chartster Chartster
There's a similar move on DOW also, weekly pin bar right off of key Trend line support
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