H&S on the 1hr SPY

6 Ara 2021

Hello Traders,

I hope your morning is going well. It looks like we have a H&S bottom on the 1hr. What does this mean? It means we're looking at a reversal. The last session showed as a soft (non-definitive) bottom on my indicators, but once we have confirmation of the H&S which we are close. This would move the probability a whole lot higher.

Good luck.

Cheers,
Mike

6 Ara 2021

Not

Note: I used 45min to be more precise on the markers. Meant to switched back, forgot.

6 Ara 2021

Not

Head & Shoulders Bottom = Inverse Head & Shoulders for those unaware.