E-Minis broke Out UP today. The Head, Left and right shoulders are marked on the chart. Note that the head was a Spring of prior lows. A "Spring" is a break and immediate reversal of a prior pivot low. Today's close above the the line which connects the two pivot highs signifies a breakout. I did not buy today as I don't like to initiate new positions on a Friday. I will look to buy a 30 minute or afternoon breakout on Monday. The target to the upside is a move equal to the distance from the Low of the "head" to the trend line, projected up from the trendline break.
This is for educational purposes only.
