$ES #ES-mini #trading setup
The big picture for long term traders: we wait for another leg down to the Green Box for completion of the (a) down, (b) up, (c) down corrective structure to go long to ride a rally in the wave (v) up:
Let’s zoom into a 240 min chart:
Micro picture for short term traders: we wait for confirmation that the corrective wave (b) up has topped to go short and ride decline in the subwave (c) down. If bears violate 5,306 that would be the first confirmation that the subwave (b) up has topped and the subwave (c) down has started. As long as bulls hold ES-mini over 5,300 they will be able to push ES higher to tag the Red Box.