W Pattern Double Bottom Is a Reliable Bullish Trading Signal

Overview The W Double Bottom pattern is visible on both the daily and hourly SP 500 FUTURES Renko charts. However, confirmation is lacking because the index failed to close above the most recent all-time high close, 4176. Perhaps Monday will be the day to officially confirm the W. What’s Next The 4176 level is critical. It… Continue reading W Pattern Double Bottom Is a Reliable Bullish Trading Signal

Successful W Pattern Double Bottom Propels Dow DJIA Higher

What Happened In the daily Renko chart, the W pattern Double Bottom is apparent.  Dow touched the low of 30560 twice, bounced off the low, and went up from there.  The only thing not yet confirmed is being able to close above 31920.   What’s Next On Friday, 3/5/2021, the February nonfarm payrolls expanded 379,000 and… Continue reading Successful W Pattern Double Bottom Propels Dow DJIA Higher