Hello Traders!
The very interesting situation in the S&P500 index (ES). Suppose, that the market can take a form of Horizontal Triangle (EWA/EWP HT 3-3-3-3-3) So, we will try to buy near 1-st Strong Buyer's Support and take long position at the price 1871.00 (863 843 lots). The price target - 2089.00, our hedging risk T/P - 2035.00, S/L - 1870.00 (Of course S/L...
S&P 500 seems it loves Head and Shoulder pattern !
Look at 2010 reaction and huge drop.
Look at the recent red H&S pattern and its reaction.
And let's see the new GIANT head and shoulder pattern which is being developed and will be finished soon, may be this month or next month.
Going back to the past, we can see the result of head and shoulder pattern few...
S&P 500 GREXIT SHORT WEEKEND PLAN
Wait for rise into 2080s then enter short with stop at 2096
Bet is that weekend chaos ensues causing a drop into Monday
S&P 500 - It's Tea Time - Cup and Handle Formation in Afterhours
Shallow cup and handle formed after the close.
Entered long at 2049 stop 2030 take profit targets above 2096
