Dear traders,

Last time I wrote about DAX.

The price continued going higher, but then it printed an evening star candlestick pattern and reversed direction.

Currently, it is around 200 points below where I last was writing about.

I did not take any trades since I did not see a bearish confirmation.

It only came a couple of days later.

But, what I am looking at today is the Dow.

Dow Jones Trading Analysis 03.10.2024

I am looking at the Dow and it is at an all-time high.

There is an inverted pin bar on the daily chart and it looks like we might see a reversal.

This is coupled with an NFP report everyone is looking forward to tomorrow.

So far, the signs for a reversal are there.

The market participants are only waiting for the slightest market disappointment and we can easily see a market sell-off.

I will be waiting for the NFP report to come out and then might possibly take a short trade if I get a bearish confirmation from the lower timeframes.

It looks like this might be just the right moment for a market slide, but let’s see.

The patient one usually wins.

Happy trading,

Colibri Trader

(Visited 16 time, 1 visit today)