$NQ #NQ-mini #trading setup This rally in NQ stretched much higher than I expected. I expected the double brown line (500 MA daily to stop it): NQ Daily chart I think we deal with a corrective bounce off the June 2022 low. Despite the fact that NQ made a lower…...
$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…...
$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…...
#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…...
$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…...
$ES #ES-mini #trading setup #Elliott Wave analysis (1) The Very Bullish scenario: Yesterday bulls stopped decline right at the edge defending the key 4,118 support. Today we got a move up that could be considered a micro wave i up of a new rally. In the previous update I noted…...
$ES #ES-mini #trading setup In the previous update I noted: “The majority of scenarios I watch argue that ES has hit a strong Supply zone and most likely we will get ES rejected at this zone. The bearish scenario 1 argues for a pullback down to 4,125.” This is how…...
$ES #ES-mini futures The primary Less Bullish scenario allows bulls to make one more push higher to tag the target 2 = 4,239.50. But more often than not bulls do not get perfect completion of rallies simply because too many traders who missed the main part of a rally get…...
$ES #ES-mini #trading setup Yesterday I posted several potential resistance targets: This morning ES hit the target 1 at 4,226 and turned down. This is the path posted yesterday: As you can see it argued for a pullback in a micro wave iv down. Today we have got one: Here…...
$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…...
$ES #ES-mini #trading setup In the previous update I outlined that primary scenario: Today bulls have made the first move up: That path allows bulls to produce a five wave up rally off the low made on the low 4,112 made on May 12th. The first resistance is 4,170. Ideally…...
$NQ #NQ-mini #NQ futures #trading setup Looks like bulls perfectly completed micro five wave up structure of the subwave c of the final wave v up: Bulls may push it higher to 13,565 – 13,570 or 13,600. To confirm completion of the rally and a bearish reversal bears need to…...
$ES #ES-mini #trading setup #Month Opening Range ES has been unusually calm in a sense that it spent 95% of the tiem inside month opening ranges since the beginning of February: According to the Month Opening Range strategy a failed breakdown under the Monthly Support is normally followed by a…...
$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…...
$ES #ES-mini #trading setup The volatile CPI day did not change anything. We still have two bullish setups. (1) The Very Bullish scenario: Under the Very Bullish scenario bulls got a micro i up, ii down setup, a starting point for a large five wave up move: (2) The Least…...
$ES #ES-charts #trading setup #Elliott Wave Here you can see the whole five wave up move off the March 2023 low: To complete that structure bulls have one more shot to a higher high left. It is possible that we get that final move up as a spike up after…...
$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)…...
$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…...
$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…...
$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…...
#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…....
$ES #ES-mini #trading setup A sharp decline on Tuesday hit the lower Green Box: That drop was not something unusual. In fact that is a repeating pattern. This is what I posted for subscribers of my Premium Chat room on Monday afternoon: That a down, b up, c up structure…...
$ES #ES-mini futures #trading setup The rule of the Elliott Wave traders club is: an a-b-c move down that stops at 50% retracement fib (that follows a push to fresh highs) is a buy setup. If we get an a-b-c move down into the upper Green Box that would be…...
$ES #ES-mini #trading setup #Elliott Wave analysis I think we have been dealing with a large corrective pullback off the October 2022 low. Every corrective pullback normally has two legs. The first leg in subwave (a) up or (w) up was structured as an -a-b-c- up structure. The first leg…...
$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…...
$ES #ES-mini futures #trading setup In my Tuesday update I shared a micro short setup for another decline targeting 4,078: I explained that: “Bears can push ES-mini lower to the next strong confluence of fibs located at 4,078. That would be the ideal spot for bulls to stop the leakage…...
$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…...
$ES #ES-mini #trading setup I have two main counts. None of them provides me with arguments that ES can be counted as having made a major top. (1) Macro Less Bullish scenario: I can count the move up off the major October 2022 low as an (a) up, (b) down,…...
$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:…...
$ES #ES-mini #trading setup #Harmonic Elliott wave analysis In my previous update I noted that bulls would most likely tag the main target at 4,200+. I expected that after the first move down to the main support at 4,100 area bulls would start another strong move up in a corrective…...
$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…....
$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…...
$ES #ES-mini futures #trading setup In my previous update I argued that bulls had a setup to push up to 4,200. They started the rally and managed to push ES up to 4,189 on Friday. Then another push down started. This is how a Macro picture looks like: On the…...
$ES #ES mini #morning update Overnight bears completed a clean corrective micro wave -iv- down right at the Daily support 4,161 (that level was shared in the evening support). Now as long as bulls hold ES over 4,161 they have a setup to start another leg up in the final…...
$ES #ES-mini futures This morning I sent out a note to share my bullish expectations for a push towards 4,200. The market has been steadily climbing throughout the day: According to my count the move up off the March 2023 low has a clean three wave structure. Therefore I consider…...
$ES #ES-mini On Thursday I concluded my report: …” Therefore the result of the day is a new higher high and another higher low. That is a setup for bulls to start another rally. The micro resistance for Thursday is 4,129. A break over that level would confirm start of…...
$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…...
$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…...
$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…...
$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……...