$ES #ES-mini #trading setup
This is the ideal scenario for Friday – Monday:
The key resistance is 4,607.75. That is the Monthly resistance for December.
What bears need is a fake breakout setup. The most important rule of a contrarian trader is “Strong moves result from failed moves.”
Tomorrow we may get a volatile day resulted from labor data to be released at 8-30 AM EST.
We can get the first move down into the green box.
If bulls manage to stop that drop over 4,560 bulls will secure a great long setup for the final exhaustive spike higher in the subwave -c -of wave -v- up.
The minimum target is 4,629. But the spike up can extend to 4,640.
If that get that emotional spike up tomorrow I would be waiting for bears to push ES back under 4,607. Break back under 4,607 would most likely be followed by a decline down to 4,570 and then to 4,540.