ES: Got Rejected off 4,240 resistance and Started Consolidation As Expected

$ES #ES-mini futures #trading setup In my previous update I noted: “I think that gap up tonight that hit 4,240 target 2 is a completion of the subwave a up. I would expect a consolidation in between 4,240 and 4,186.”. This is path for the expected consolidation: This is how…...

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ES: Still Needs a Consolidation Before The Final Blow-off Top Move Can Start

$ES #ES-mini #trading setup ES-mini spiked to 4,240 level, the target 2 we discussed several times in May 2023 (see the update posted on May 19th). Back then I used negative extensions of the early May 2023 decline to come up with threetarges: (i) negative -114.6% ext = 4,226.50, then…...

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Learn a Trick: How to Spot a High Probability Fake Breakout Setup

#education #VIX #ES-mini #trading setup Thank you very much to my subscribers! Your support is very important for me! I really want to add value to your subscription. I will be posting bonus articles explaining trading setups and rules I found the most useful in trading. My dream is to…...

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ES: Bulls Triggered a Setup Leading to 4,300

$ES #ES-mini #trading setup #ElliottWave In my yesterday update I shared a bullish scenario leading over 4,200: I concluded my report with the following note: “To trigger that bullish setup I want bulls to push ES over 4,170 tomorrow morning. Moreover, that setup requires bulls to start pushing it up…...

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ES: Hit a Fat Supply Zone

$ES #ES-mini #trading setup On May 14th I shared my Primary bullish scenario: This is how that chart looks now: In my previous update posted on May 17th I noted: “The first resistance is 4,170. Ideally bulls should consolidate here before they make the next pushup to the next resistance…...

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NQ: At the Major Crossroads

$NQ #NQ-mini #trading setup NQ is at the major crossroads: (1) Scenario 1: Less Bullish. Bears have a setup to turn Nasdaq down: That Less Bullish count argues that the rally off the October low may top here and a new large leg down may start. To confirm completion of…...

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NQ: The Final Spike To The Red Box Would Be A Short Setup

$NQ #NQ-futures #trading setup #Elliott Wave analysis As you can see on the daily chart shown below, the whole move up off the October 2022 low can be counted as a huge corrective Double Three structure, a combination of two -a-b-c-‘s. We label the Double Three corrective structure as (w)…...

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$ES: Contraction in Volatility Should be Followed by Expansion in Volatility

$ES #ES-mini #trading-setup On Monday we got the narrowest trading range for seven trading days. The rule of thumb is contraction in volatility is followed by expansion in volatility. The ideal scenario to trade would be to get a failed breakout setup: a push over 4,167 followed by a quick…...

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ES: The Friday Rally Stopped at the Critical Resistance 4,155.50

$ES #ES-mini #trading setup Remember, a 66.7% retracement is the strongest retracement fib you should always pay attention to. In this report I will show you how that retracement fib can define the path for ES-mini for the following two weeks. (1) The Least Bullish scenario. Let’s start the weekend…...

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ES: Bulls Played the Failed Breakdown setup as Expected

$ES #ES-mini #trading setup In the Wednesday update I concluded that …”To trigger the textbook long “failed breakdown” setup first bears need to violate the previous low made at 4,068.75 and then bulls need to reclaim that level.” Bulls perfectly played that script today: ES dropped under 4,068.75 twice and…...

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ES: Bulls Will Get Back Into the Drivers Seat Upon Push Over 4,105

#ES $ES #ES-futures #trading setup Today we completed the Month Opening Range: The Monthly Resistance is 4,206. The Monthly Support is 4,105. From the perspective of the Month Opening Range strategy such a counter trend drop during the second and third day of a month is actually a typical pattern…....

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ES: Rallied as Expected, It’s Time for Consolidation Now

$ES #ES-mini futures In the previous update “ES: Bulls Got A Chance To Start Another Rally” we correctly predicted that rally. Today the rally hit the first resistance: That red band is formed by 66.7% and 76.4% retracement fibs applied to the preceding decline. If we get a corrective a-b-c…...

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ES: Hit The First Support

$ES #ES-mini futures In my Sunday update I noted: The last week produced the narrowest weekly trading range for several months. When an extended move is followed by a doji candle with the narrowest range for 8-10 bars that almost always leads to spike in volatility. The rule of thumb…...

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$ES: Contraction in Volatility Always Often Leads to Expansion in Volatility

$ES #ES-mini futures #trading setup The last week produced the narrowest weekly trading range for several months. When an extended move is followed by a doji candle with the narrowest range for 8-10 bars that almost always leads to spike in volatility. The rule of thumb for any trader is:…...

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ES: Will Bulls Tag 4,200+?

$ES #ES mini futures #trading setup #Harmonic Elliott wave This is how the bullish scenario looked like in my report dated April 17: Bulls were one step away from the Red Target box but the rally stalled: This morning ES is breaking under the support of the green trend line…....

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ES: Both, the Macro Bullish and the Macro Bearish Scenarios Allow Bulls to Overshoot 4,200 resistance

$ES #ES-mini futures #trading setup #Harmonic Elliott Wave ES has been squeezed in between of two converging green lights: Quite often that type of consolidation patterns gets resolved by a fake breakout that creates a blow-off top that is followed by a brutal bearish reversal and accelerated plunge under the…...

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$ES: The Monthly Resistance Stopped the Morning Spike

$ES #ES-mini #trading setup In two previous updates (here and here) I noted: “Last week S&P completed a Monthly Opening Range for April. The Monthly support is 4,099. The Monthly resistance is 4,171.75. Now direction of a break out of that range would define direction of the next big move…...

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ES: Waiting for a Break Out of the Month Opening Range

$ES #ES-mini #trading setup In my previous update I noted that ES-mini popped to the critical resistance 4,146 and shared my expectation for upcoming move down. Today bears made that push down but they failed to break under the Monthly Support 4,099. In the previous update I noted: “Last week…...

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ES: Popped to the Critical Resistance on Friday

$ES #ES-mini #trading setup #ES-mini futures ES closed a shortened trading session last week at the critical resistance 4,146. As long as bears hold ES under 4,146 that bearish setup will remain a feasible scenario: However, bulls still have potential for another push higher under the bullish scenario we have…...

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ES: The Bearish Scenario is Alive or how Structured Products Made S&P 500 index Useless

$ES #ES-mini futures #trading setup This is the bearish scenario I have been tracking: ES-240 min chart Under that scenario the critical resistance was 4,108, the 66.7% retracement of the preceding decline. Then last Friday on March 31 bulls produced a crazy spike well over that resistance. That violation of……...

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