The Hidden Pivot pattern shown, with a major rally target at 5165.25, is a poor specimen because its point ‘B’ high failed to exceed the 4765 ‘external’ peak recorded in April 2021. However, it should be considered good enough for government work, meaning the target should show some stopping power and could perhaps even prove fatal. A reverse pattern trigger for the short is already in effect, predicated on a 143-point drop that touches 5006.50. The implied entry risk on four contracts is $28,600, so we’ll need to cut that down to size with a ‘camouflage’ trigger if and when the trade is signaled.
ESH24 – March E-Mini S&Ps (Last:5138.75)