$ES: Get Ready for the “Max Pain” Tricky Scenario

  • CastAwayTrader
  • February 22, 2024
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$ES #ES-mini #trading setup #Elliott Wave

ES-mini popped up strongly following strong earning reports posted by NVDA. We correctly predicted that rally 24 hours in advance.

The ultimate target for the wave -iii- up is located at 5,140 – 5,150. But there is strong probability that ES-mini will not hit the target in a direct way.

Below is the least expected and therefore the most brutal scenario we can call the Max Pain:

ES-mini 120 min chart

A push to 5,125 would complete an a-b-c up structure of a corrective wave b up inside a bullish Running Flat structure. That push should be followed by a sharp drop down to 5,030. Then we will get another push higher in a micro wave v up to 5,150.

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