The trade setups we follow are simple, and easy to track. Add in the BOTs, and it makes a very pleasant day in the trading arena. The 10:00 AM news was not favorable, and the markets sank deeper into the red, to over +20 from the market high, and +15 from the SBOT BO.
We discussed a variety of trades in the webinar, then turned our focus to discussing the importance of an inverted head and shoulder. An IHS can reflect a bottom in a stock, or the market. That IHS head began at b14-16.
Bull channel and the SB Reversal ran the market higher after the IHS.
TF TODAY
Similar pattern, and why we like to trade it and the ES together.
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