Going to start a new thread to document these bottom reversals.. Thereβs a certain look sometimes with a failed move lower. Itβs similar to a tweezer, but where the second candle undercuts the low of the prior. I call the the βpincerβ.
Hereβs one in Nikkei futures:
@Contra_Club_ I got a little impatient, but also slightly bearish when QQQ/XLK was rejecting a week or two ago and bailed long swings like this. Iβm keeping an eye on it though. Technically the stop near 5.3 is still intact and the weekly is very coiled..