That was a perfect inverse h&s today good for 30 ES points easy

If you trade on an inverse h and s pattern, you are a big loser.
Look at daily chart, on 4/6, 4/22, 5/9, 5/19, they were all inverse h and s patterns before they got punched through.So you lose 4 and win 1.
 
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Real Money said:
Its the second day in a row ES sold off at the close of the European session. The bearish paint all night long and leading into the NY open was easy to read. Size players working the action to get traders hitting the bid (new lows, failed rally, over and over). The ICS market is telegraphing every move lately. IMO, a lot of cash out there.
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Check 10 year note , Japan yen and euro/usd , they are the reason equity has been dragged down.
 
wmwmw said:
If you trade on an inverse h and s pattern, you are a big loser.
Look at daily chart, on 4/6, 4/22, 5/9, 5/19, they were all inverse h and s patterns before they got punched through.So you lose 4 and win 1.
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A good trader uses the actual candle shapes + indicator/other gauge of the short term trend in addition to the patterns, so they would not be blindly taking H/S patterns. I think the ones who try it blindly and obviously fail with that method are the same ones who come to forums and say "technical analysis is bullshit!"
 
JackMorgan said:
I was going to post about it but was too busy managing the trade. Sometimes they just hand out money
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"That was a perfect inverse h&s today good for 30 ES"
Not too shabby...
Head and Shoulders-985 es 1000v.png
 
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Overnight said:
That is the sticky wicket though. You do not know if the day is going to trend or range on any given day at the open. You can see it only after the close. Especially in this calendar year's market where the trend has been general bear with 10% bounces between troughs.
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The first 15 minutes RTH will typically show you if there's going to be a trend from the open or broader 2-sided trading in the MES.
 
Georpe said:
The first 15 minutes RTH will typically show you if there's going to be a trend from the open or broader 2-sided trading in the MES.
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Today morning it was not.
It was a seesaw with in two hours from 9:30 AM.
It was after 12:00 it showed the real direction.
 
wmwmw said:
Today morning it was not.
It was a seesaw with in two hours from 9:30 AM.
It was after 12:00 it showed the real direction.
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Yup.

RTH opening price support broke for the last time and $SXP Up/Down volume ratio confirmed:-

! eMini.png
! SPX Vol.png
 
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