20180306
Long 1 NQ 6910.5, -3.0
Long 1 YM 24910, -7
Long 2 YM 24892, 24892, -3, -3
Long 2 NQ 6903.0, 6903.0, -2.0, -2.0
Long 3 NQ 6900.75, 6900.75, 6900.75, +5.0, +5.0, +16.0
Short 2 YM 24917, 24923, +10, +23
Long 2 YM 24830, 24830, +20, +35
Long 2 RTY 1544.3, 1544.3, +1.0, +2.0
Total YM +75
Total NQ +19.0
Total RTY +3.0
The classic H&S pattern gets its most references in textbooks to a reversal pattern. My experience is just the opposite. It works as an H&S only if the left most shoulder of the pattern holds as support/resistance against
any price threats of retesting the extreme price point at the head. If this left shoulder is broken in the attempt, as it was today in the RTY, then it becomes a much more effective presage of renewed price extremes than it does a as reversal pattern. Thus, the big tug-a-war between the ever bull NQ and the unusual sloth-like behavior in the RTY today was settled by the RTY's bear leadership, not the NQ bull. Check out the book Pivots, Patterns and Intraday Swing details for more details and examples of this H&S presage failure signal.
