$ES: Finally Violated the Support

  • CastAwayTrader
  • December 15, 2022
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$ES #micro #trading setup

ES-mini futures finally violated the support 3,945:

ES-mini 120 min chart

It has been our target for the first move down and the first support we have been watching. Now even under the bearish count we could expect a bounce.

The Rule of thumb says:

“every time a widely watched support gets violated bulls step in and try to save their face pretending like nothing happened“.

A move back over over 3,955 could trigger a corrective rally in subwave a of wave ii up.

If we get a clean a-b-c up bounce that stays under 4,060sh that would be an attractive short setup for an accelerated part of the decline in a large wave C down.

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