Doji candlestick pattern with inside day and low volume today. Doji candlestick patterns indicate indecision and happen at turning points or trend continuation points. The Doji candlestick patterns are marked with "Dj" on the chart below.
Doji Candlestick Pattern (Emini daily)
Everything seems to be lining up for a down move:
- Overbought oscillators with bearish divergence on Better TRIN
- Hilbert sine wave cross approaching (confirmed with break of today’s low)
- Trend line break down out of consolidation on 81 minute chart
- Low volume indicating lack of follow through demand
- Rally in US Dollar versus Japanese Yen losing steam
However, If we don’t turn down then the doji candlestick pattern can be used to estimate the next target. The doji pattern often occurs at mid-points of trend moves and so the upside target would be 1,445.
My money is on the down move but we’ll see soon enough. Good luck with your Emini trading.
