$ES: Dropped to the Green Box. Bulls Can Start A New Rally

  • CastAwayTrader
  • October 18, 2023
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$ES #ES #trading setup #Elliott Wave

Yesterday I posted that bearish path:

ES-mini 120 min chart

Today ES-mini tested the Green Box:

ES-mini 120 min chart

ES stopped at the upper edge of the Green Box. That is a 50% retracement of the preceding rally.

Bulls get a setup to attack that 4,420 resistance again and this time they should be able to break out.

There is a achance that bears can push ES deeper into the Green Box and test 4,300 or even 4,281 levels.

The Month Opening Range startegy:

ES-mini 30 min

This afternoon ES-mini finally dropped to the strong support of the broken Monthly Resistance the red line). If bulls manage to defend that level they will save a potential for another large rally into the end of the month.

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