ES Traders

I am not a follower of chart "patterns" ie wedges triangles etc--I prefer to use the more objective indicators. However, I am curious if there is a pattern analyst out there who could comment on whether the ES is in the midst of a potential Head and Shoulders pattern and if so, what would it need to do to complete the pattern?

 

I love H &S trades, but where are you seeing it ? I am seeing higher highs and lower lows.

 

I do not see a H&S. Look at the weekly EC (euro) and you will see a huge H&S. Still not short on the ES. Just bideing my time.

Regards,
Steve

 

again, I am not an expert so I am looking for guidance. Does the right shoulder have to be higher or lower than the left shoulder on an H and S?

 

now I am confused Steve. I looked at the EC weekly and didn't see it. What dates are the left S, Head and right S?

 

Left shoulder is dec 2003 on the EC and the head is Dec 2004 and the right should is just about completed on the weekly charts.

Usually you can expect the drop from a H&S to be equal to the distance from the neckline to the top of the head.

Here is the picture

 

In addition the right shoulder can be higher or lower than the left, and the neckline can be have a slight postive or negative slope.

Regards,
Steve

 

ok you were looking at a longer time frame than I,---I thought you had meant just a few months.

 

Back to the ES daily Volente, the left S at 12/15/05, the head at 01/11/06 and the right shoulder forming at 01/30/06-- Anything there volente?

 

It was there but the problem is it did not break down so the pattern is really not valid.