18-NOV-2015 | ES
1) In this afternoon's example of a head & shoulders pattern using a 4 tick range bar in the forward e-Mini S&P 500 electronic futures contract, the ES had been in a pullback within a larger uptrend since 2:12 p.m. EDT this afternoon.
2) A reversal in MacDaddy occurs just after the head. This reversal in MacDaddy points to exhaustion.
3) Our right shoulder occurs at 2:42 p.m. EDT.
4) Higher Highs in MacDaddy begin ocurring just after the right shoulder. These Higher Highs are accompanied by uptick ratios, #of transactions Ratios, Volume ratios, an increment in WIND from Blue to Green, Long reversals in Equities HFT and HFT buy surges.. These events point to new fuel. WIND stay Strong Green!
For a deeper dive into how to use Better Data trade the Right Shoulder of a Head & Shoulders pattern click here.
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