Topping Candle
If you compare today’s candle to the previous two tops, you can clearly see that we are in a similar situation. The volume is low, indicating that the markets are once more waiting for Ben Bernanke to push it into a direction. However, forming such a candle while closing below both strong trendlines is not very bullish.
Yes, double dinged. And an important lesson re-learned for the x-th time:
Don’t front run, wait for confirmation! Got stopped out in a short position.
another shooting star candle today..