Certainly possible, however market isn't open until Tuesday for 60 minute to show on charts. I did indicate that right shoulder would likely need more festering, so depends on what your definition of reversal is.
Essentially I am using other things to identify area's that have a higher probability to have actual meaning and to react, as oppose to another area that may look exactly the same on the chart, but based on #1 how we got there(days even weeks if using a Daily chart), #2 the time it took to get there and #3 how it reacted when we get there can tell me it is likely not the same as another area, double bottom or etc that may look a lot like it at first glance. In other word's the fact that it is a double bottom or double top, really is irrelevant to me, because I am looking for certain factors that line up to trade the setup. Lots of times near double tops or bottoms though is where they will trap a lot of buyers or sellers, so most often these types of setups do happen around area's like that. Also, just to be clear regarding the top/bottom doesn't hold 3x in a row. I mean I found that generally true with most support / resistance particularly in intra-day trading. I agree with the other gentleman I don't necessarily trade that as a direct setup, but it's something to be aware of, as often your third hit fails and we will move aggressively further in that direction of the break. As far as the distribution / accumulation that's just how my brain processes the levels and setup. You could call it resistance/support, area of interest, distribution / accumulation or whatever. Just the way it responds to the levels and zones, for me looks like we distribute into certain ones and accumulate at other ones(Given that we don't typically stay in the area to long and once we come out of it, we tend to get outsized moves). 15605-15987.25 was the distribution area on NQ Daily for me. However in order to get this level and make it have meaning to me, started way back on 12/22/21 and based upon the up movement, it created a zone below us, than once we started trading below that zone, I knew area above was going to be a potential area of interest or whatever you want to call it. That's why I've been mentioning the low (15605) as well as the high (15987.25) as area's I've been looking to short, or be more aggressive short if we get below / area below. Like wise if we regain one of these area's I tend to look for a short covering rally, because it shows sellers are losing control. That's why made comment on a little weird close for NQ, since we tested 15605 like 3x intra-day but barely had any short covering above it, furthermore why I said market still look pretty weak, given that. Sorry for post being so long.....hopefully that made some sense and wasn't too difficult to read or understand.
Almost there now right? I can see quite a big retracement coming before a much bigger shorting opportunity. What do you think?