DBD Strategy Daily - Rangy European indices
European indices have no trend in the medium term. They have been in ranges for months. Nothing is worse than that for trading... Technical analysis theory is very frustrating because it says that nothing works in ranges. One of the things that theory warns us to be careful about is candlesticks. The prerequisite for candlestick patterns is a trend. Without trend, one should not trust candles. In Europe, long white candlesticks in July are not a confirmation of the bullish trend one may wish for. The bearish gaps opened this morning tell that we are still in a range and we have to be patient before a real trend arises.
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