ESH11 – March E-Mini S&P (Last:1241.50)

I’d forgotten about the 1250.25 rally target I’d posted for the December contract but was reminded of it when a trader who recently graduated the Hidden Pivot course reported that he’d interpolated the target for the March contract, gotten short there with a 1.00-point stop-loss and come away with a small profit.  The relevant pattern is shown in the accompanying chart, and I’m embarrassed  to say that it’s a type of pattern that, in teaching mode, I usually effuse over, formed as it was by the relatively quick completion of the ABC phase, followed by a grind to ‘D’ that seemed to take forever.  Our arguable edge here comes from the fact that the C-D leg takes so long to complete that Gartley and other 123-pattern players get bored to death with it and…um, forget about it (just as I did).  As our student/trader proved, however, it pays to keep track of such things and to be patient as such patterns develop.  Creating a matrix that lists all patterns and their respective points X, p and D is the best way to do this, and that is why I’ve begun to include the construction of a matrix in the Hidden Pivot course.