S&P500 [ES] | Potential False Breakout of Head and Shoulders
/ES completed a textbook head and shoulders pattern yesterday.
Price broke the neckline overnight but it is very possible that this breakout is a simple liquidity hunt.
There is a clear parallel channel (bull flag) that price has respected. Watch for a bounce within the channel.
A breakout of the upper resistance can push price to 4000
Goodluck!
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
Price broke the neckline overnight but it is very possible that this breakout is a simple liquidity hunt.
There is a clear parallel channel (bull flag) that price has respected. Watch for a bounce within the channel.
A breakout of the upper resistance can push price to 4000
Goodluck!
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
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