S&P Inverted Head and Shoulders sets up BARR bottom.

Very quickly as I am about to be off wageslaving. The rising channel internal structure sets up the inverted head and shoulders and a quick extension of the height to neckline gets us a full performance target just under 3k. Should we get above that falling purple trendline we have set up for a BARR reversal bottom. I post on those alot and so rather than going over them again I'll just post the link so you can DYOR. I will just add that at the first sign of weakness (such as lack of volume, or low angle impulse) you would have an initial target of the second peak of the lead in structure. Second target is the bump to neckline height from the successful retest of the lead in trend line. Final target is the first bump of the lead in.

thepatternsite.com/barrb.html
I'll be looking to take my profits at the performance of the inverted head and shoulders and longing the lead in trend line. Based on the macro structure if I long the lead in trend line I am taking profits at the blue trendline in case it turns into resistance

As always, watch the volume situation

And finally, here is my big picture submitted without analysis for your consideration.

Комментарий:

The channel/inverted head and shoulders neckline is being tested on a very small timeframe. This can chop back and forth for a few days and i am still confident in the trade. I got in early so I can have my stop by the right shoulder and still be in the money.

Сделка закрыта вручную:

Didn't like what I saw developing and I didn't want to have the risk of this thing retracing more than I wanted, so I took profits early on my SPXL position, roughly up 30%.