$ES: Nicely Followed Our Plan

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$ES #ES-mini #trading setup #trading futures #Elliott Wave

In my previous updates I shared my expectations for a final move down that would break under 5,000:

ES-mini 13,500 tick bar chart

Overnight bears produced emotional climactic drop undercutting 5,000 level:

ES-mini 13,500 tick bar chart

As we expected, a break under 5,000 became a powerful invitation for bulls who immediately stepped in and produced a very strong rally. That was the textbook “fake breakdown” setup. We got enough waves to considered the corrective move down off the early April completed.

So far ES-mini has been nicely following our path I shared on Wednesday (see above).

Now we can expect a large wave (b) up that is structured as a-b-c.

The ideal targets for the first leg up in a subwave -a- is normally 30% or 41.4% retracement (5,078 – 5,119.50).

The ideal target for the second leg up in a subwave -c- up is either 66.7% or 76.4% retracement of the whole move down of the first half of April *5,211 – 5,246).

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$ES: Two Path Leading to 6,000

$ES #ES-mini #Elliott Wave I have been tracking two scenarios and both allow bulls to push ES-mini to 6,000. Let’s

CastAwayTrader September 13, 2024

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