The bearish view is we have been making a r shoulder of a h+s and each day we have made a lower high. 2900 is critical ground for the market right now.
My positions are net short. But I have to consider that if we break above 2900 then it is likely as what the ma's are confirming that the uptrend is in play and we can go for new highs.
............would not recommend to enter a short trade on basis of a h&s-pattern, before the pattern is not completed up to the neck-line ! Other while you take a unnecessary high risk. But you can try if you wish....sometimes luck is at your side....though then it is not trading......we call it gambling.
Zen-Trades
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@Woerle, Hmm. Well a stop above R shoulder at 2907 makes sense. The stop is tight and the r.r is high. It is not gambling. If we go above 2900's it is likely we go for a new high, as a few other bear scenarios would be eliminated.