Yesterday's profile looks balanced and thoroughly auctioned from both directions.
Technically, it does not suggest any directional bias by its shape alone. But if you put that action into the context, you would see that the sign of bullishness is quite clear.
The big stop run yesterday's morning was meant to test the VPOC of last Thursday and the three overlapping down bars look like a bull flag pattern.
Given that we have a bullish open above the prior day's value, I am going to assume that the DAX is poised for a break out to the upside so long as it does not take out 12780.
Once 12780 is out, then a stop run below yesterday's low could be on cards.
Technically, it does not suggest any directional bias by its shape alone. But if you put that action into the context, you would see that the sign of bullishness is quite clear.
The big stop run yesterday's morning was meant to test the VPOC of last Thursday and the three overlapping down bars look like a bull flag pattern.
Given that we have a bullish open above the prior day's value, I am going to assume that the DAX is poised for a break out to the upside so long as it does not take out 12780.
Once 12780 is out, then a stop run below yesterday's low could be on cards.
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