Morning Doji Star
Updated
On daily spy made a reversal pattern candlestick.
Its called Morning Doji Star. I know after the big fall today its hard to believe that we will see a gap up in the morning. But this is what candlestick is showing.
Its called Morning Doji Star. I know after the big fall today its hard to believe that we will see a gap up in the morning. But this is what candlestick is showing.
Comment
SPY has started to move up. I still think it can go up as it is in the absorption phase. Everything looks smooth in all timeframes. No divergences or accumulations or distributions. Fib retraced less than 50% which also confirms it is okay to go up.
The only thing that can bring the price down at open tomorrow is the hourly chart shooting star candlestick. It can be used as entry for long but one needs to keep eye on lower tf before going long.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.