don't worry our plunge protection team is on the job, this pattern most likely wont play out, but just wanted to point it out. A down equity market ha! not a chance, this is perfect were our government supports our supposedly free markets. Just buy buy buy buy. Welcome to perfect, were risk is nonexistent.
Head & Shoulder Pattern in ES
- Thread starter Rickshaw Man
- Start date
If you look very closely at your chart you will notice that the bottom right half of the "head" and the still developing "right shoulder" actually form a sort of mini, inverted head and shoulder pattern.
With that said, H&S, inverted or not, is entirely dependent on volume. If the volume construct is not right, the probabilities of the pattern completing as expected drop substantially.
With that said, H&S, inverted or not, is entirely dependent on volume. If the volume construct is not right, the probabilities of the pattern completing as expected drop substantially.