RationalTrader

wave 5 under construction

CME_MINI:ES1!   S&P 500 E-MINI FUTURES
Wave 5 seems to take the firm of a wedge which is not that unusual. But trade carefully this autumn as a corrective ABC pattern will come after the 5th wave if this pattern proves viable. It should break the weekly trendline , and wave 4's zone at around 1800-2100 would serve as the first target for the correction.

Wedge seems technically it will break before new years. With US election coming up later this year, I would be careful with trading US equities. Probably for my own sake I will exit my longs around the last months highs at around 2200, then wait to after election before I go into this market again.

English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out