The SPY almost had two of these setups today. However, the first 3-push move didn't make a lower low on the 3rd push, thereby creating more of an inverse H&S instead (notice the 3d criteria which often draws your attention to a right shoulder for this setup). The actual 3-push came at the highs of the day and with a day where buyers are in control it's always best to short a retrace once momentum has shown itself rather than the initial trend line break.
Instead of taking the SPY short I actually entered TZA long based on the 15-min 3d setup (and the 3-push short setting up on the SPY AND the TZA showing a 3-push pattern on the 15-min chart). There are two arrows marking possible triggers to entry, my entry was actually on the 50% retracement level. Exited half at the 50% projection while the 100% projection missed by 8-cents so the other half was taken off as price went under the bearish red inverted hammer candle on the 5-min.
