Here is my trading analysis made during July 3 to July 13. The outlook was explained in my real-time commentary. Here is a recap of what I saw and the potential outlook from here.
Following is a 30-min regular trading session (RTH) only chart of Emini S&P500 future contract.
By the end of the week of June 29, 2018. marked by the dark green up arrow, we have a very volatile week that swing back and forth almost 2% everyday.
Yet something very interesting happened – an inverse head and shoulders will be formed if the neckline at the top is cleared.
The red horizontal lines highlight the shoulders and the green horizontal lines highlight the head.
The best moment for jumping into this move is marked by the bright green arrow for which a confirmed 1-2-3 buy happened.
The target highlighted by the red box is expected to at least give us a pause using my trend line targeting method.
The blue box highlights the Inverse Head and Shoulders target for which consolidation and pullback is likely to follow.
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