$ES #ES mini futures
We can count that messy consolidation as a symmetrical triangle:
A symmetrical triangle is a consolidation pattern composed of five moves (subwaves) bouncing in between of two contracting trendlines.
Upon completion price should continue moving down to new lower lows Price normally enters and leaves a triangle in one direction. Every successive move (subwave ) inside a triangle is shorter than the preceding one. Therefore, the final subwave -e- up should be the shortest and weakest one.
Stop for bears 3,947.50.
Subwave -e- up can not g over the top of the preceding bounce in a subwave -c- up (3,947.50).