$ES #ES-mini #trading setup
In the previous update we correctly predicted this rally and noted a clean bullish triangle setup:
ES-mini is approaching the lower edge of the Red Target box.
We have the perfect confluence of two super strong fibs:
- 223.6% ext of the wave -i- up (off the major Oct 2023 low), and
- 176.4% ext of the subwave -a- of wave -iii- up.
That is the ideal spot for a wave -v- up to top.
If bears manage to stop the rally at 5,040 – 5,050 we should expect a large (a) down – (b) up – (c) down structure in the wave (iv) down where the first leg down in a subwave (a) targeting 4,875.