$ES #ES-mini #trading setup #Elliott Wave
In the previous update I shared my expectation for a turn down off the Red Box:
Bulsl pushed ES-mini to tag that Red Box and then ES-mini turned down as expected:
That is an interesting chart in a sense that we have two potential bullish inverse head and shoulders patterns. Bulls can stop bleeding at 5,307 – 5,300 and turn it up. That decline would look like a decent Right Shoulder.
Alternatively, decline may extend lower down to the Green Box and that would be the right shoulder for a bigger bullish Inverse Head and Shoulders.
These are alternative paths that all point higher ater this year: