$ES #ES-mini #trading setup #Heand and Shoulders #breakout
Bears still sit on a bearish Head and Shoulders setup:
That Head and Shoulders setup is capable of delivering a 100 point drop in a wave -c- down.
However we should keep in mind a Plan B that can be triggered by invalidation of the bearish H&S scenario. A push over 4,821 would trigger a short covering rally that would push ES-mini to a fresh all time high.
In conclusion:
The Plan A: The Head and Shoulders setup is capable of delivering a 100 point drop in a wave -c- down.
The Plan B: In case of a breakout over 4,821 the target for a rally will be 4,860.