$ES: The Structure of the Bounce Looks Complete

$ES #ES #trading setup #Elliott Wave #trading strategy

If we look at a macro 240 min chart we can see a three wave up move that looks like a corrective pullback:

The move up off the mid August low has been following a corrective -w- up, -x- down, -y- up structure:

That corrective -w-x-y- structure off the Aug low has made enough micro waves to be considered completed.

The previous Aug high made by wave -w- up at 4,485.50 turned into the main support now. If bears push ES down to that line that would be a critical battleground. Break under that line triggers a short “faild breakout” setup, a setup liked by algos.

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$NQ #NQ #trading setup #Elliott Wave #a-b-c bounce Two paths I will be watching for a corrective a-b-c- up bounce

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