ES Journal - 2021/2022

[Buy1Sell2]

There's an IHS building on 30min and 1hr. I'm not suggesting anyone take it with all the current macro factors. just pointing it out.

It's only half complete though right? Could you post a chart showing what you are looking at?

 

[newbie463]

correct..............

 

[Zwaen]

Not that there is any predictive value in it, but with a little imagination the (ever returning to 15-20) vix is showing an enormous ‘saucer bottom’.
Maybe a new meaning of the smile ;-)

 

[Spooz Top 2]

correct..............View attachment 279347

I`ve been watching that puppy.......

 

[Spooz Top 2]

anticipating a lower low here on the day.....

 

[Spooz Top 2]

Heeaaavvvvyyyy

 

[Concinnity]

NQ yesterdays open bar price on Daily is 13900.25. Think that would be a good magnet for price. ES already filled it's Open bar price.

 

[newbie463]

3 push down on the 5min from overnight. last leg not completed. not sure if we get 30 up or 30 down from here.

 

[Spooz Top 2]

IHS hit a brick wall just above NL.......
Let`s see if it can regather some steam or defecate the bed!!!

 

[NoahA]

correct..............View attachment 279347

To be honest though, I can just as easily make the case for the blue IHS matching something similar that you show in white, and that didn't produce a rally. Furthermore, the IHS in red did produce a nice bounce, and another IHS in yellow failed to rally.

If I look for a regular pattern vs. an inverted one, I see a small one outlined in cyan (with a double top being the head), and I guess this one did produce a nice drop. You can even draw in a bigger one, the magenta one.

So for me, these head and shoulder patterns are everywhere and hardly that predictive and quite subjective with how you draw them. They are only obvious once its too late to enter anyway.