It’s hard not to like the pattern shown, since it has so far provided the basis for a painless ‘mechanical’ short from the green line that would have reaped a two-day profit of $3400 per contract. Notice as well that reversing the position and going long on Thursday from the midpoint Hidden Pivot would have racked up additional gains of about $1800. So what is it saying now? Quite clearly, that the futures will be on their way to exactly 1733.19, the ‘secondary pivot’ of the pattern, if and when they crack 1800.88. There are two ‘mechanical’ shorting opportunities implied by this analysis, so stay tuned to the chat room if you’re interested.
