$ES #ES-mini futures #trading setup
Since the market topped in Jan’22 almost every attempt to turn ES back up was shaped as an ascending wedge:
And almost every wedge topped after a failed attempt to push higher resulted in a double top (see the yellow dots marking up double tops).
This is how the last two bearish ascending wedges look like on a 240 min chart:
So far ES follows the very same fractal that completed a larger bearish ascending wedge in mid Feb 2023 (see red down arrows).
Yesterday I noted that ES could produce one more bounce following the fractal played out at the top of the wedge in Feb 2023: