Did you catch the pattern in the ES?

Jan 8th, 2010

Hello Traders,

Looking at the 30 Minute chart as we noted to our members in real time we were watching the Head and Shoulders pattern that was forming as everyone was saying that the 1100 level was a sell level in the ES and to take short positions. We waited and watched how this pattern played out and there was a perfect "right shoulder re-test" to take the markets higher.

There are a few minor resistances coming into play but 1235 is our ultimate upper target for the ES.

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Happy Trading,

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