$ES #ES-mini #trading setup #Head and Shoulders
Almost any big bearish reversal is shaped as a Head and Shoulders pattern or Wyckoff Distribution pattern:

The distinctive feature of the Head and Shoulders pattern is a sharp drop following the head, exactly like the one we got yesterday afternoon.
To complete that bearish reversal structure we need to get the “Right shoulder”.
The Right Shoulder may top either at 50% retracement = 4,787 – 4,789 or can push higher up to 76.4% retracement = 4,810.
The target for the drop off that bearish Head and Shoulders pattern is 4,660.
To trigger that bearish setup bears need to push ES-mini back under the neckline = 4,745.
Check out a bigger macro view in my Wednesday update: “First 400 Points Down, Then 800 Points Up”.