The short I detailed here yesterday never got close to triggering, but here’s another: Get short if the futures fall to the green line, and use the red line (p) as a minimum objective. I have not specified prices for either Hidden Pivot level because the rally could yet exceed the pattern’s point ‘C’ at 2905.75, creating a new ‘C’. The trade is based on the so-called rABC, or reverse ABC pattern, popularized by my mentor, the late Ira Tunik. However, the pattern had significant limitations for purposes of analysis and offered less-than-stellar odds for the trader. I am experimenting, however, to determine whether rABCs yields better results if two very specific conditions are met. My suggestion in the meantime is to paper-trade rABC-based recs until you are confident using them. I invite all subscribers to share their findings in the chat room. Please do so VERY sparingly, however, so that the discussion does not become cluttered with poorly developed, drawing-board ideas._______ UPDATE (Jun 11, 10:32 a.m. ET): Based on the so-far 2911.50 high this morning, the ‘CI’ short would trigger at 2870.19, stop 2912.00. Yes, that’s risking $2100 per contract — not recommended as a trade-out-of-the-blue, but for those who are in and out of ES actively.
ESM19 – June E-Mini S&P (Last:2902.00)