Highlighting possible formation.
If it does not break above 1248, and turn down, there is a chance that we see a mini head and shoulder forming.
Kumo support remains at around 1212.
Sometimes, the intraday trades movement can be so fast that one may missed out a pattern developing.
In this case, RIMM may have a head and shoulder forming.
I was only able to spot it because of the Chikou Span in Ichimoku.
As we can see from the Chikou Span, there is a chance that the head and shoulder will form.
And if that forms, the way for RIMM is down.
At time of posting, head and shoulder is not confirmed yet.
A reminder to myself, No Setup. No Trade.
Following is a 5 minute chart on the /ES for June 16.
This is one of the reason why I like Ichimoku so much.
We can easily spot the head and shoulder by looking at the Chikou Span on the left and trade off it as it breaks support.
Noticed how it breaks and went down from the neckline.