$ES #trading setup #bullish reversal
This morning I correctly predicted a pullback after the pre-market rally.
After that pullback bulls got a charged Inverse Head and Shoulders pattern, a reliable bullish reversal setup:
We can measure the height of that structure, then project that high up from the neckline and get the target for a potential rally = 4,317.
This morning I explained that “the target 2 is defined by a micro subwave b up of wave iii down = 4,317”.
The protective stop for this setup should be placed at 4,254. If bears break under that level we may get another extension to a lower low.