ES Long Target: 2806
ES Short Target: 2530
Idea Failure: Wave (E) > Wave (C)
Note that this is really a longer timeframe trade idea and hence the timeframe used on the chart is Daily. The risk-reward is now favoring shorting, but because there are still some upside potentials (around 28 points or 112 ticks or US$1,400 per future), I recommend going long first but with a cautious approach (trail your stop) that prepares for a downside move.
I shall put this idea as a SHORT instead of the shorter-time LONG because this idea is really on a much higher timeframe.
ES Short Target: 2530
Idea Failure: Wave (E) > Wave (C)
Note that this is really a longer timeframe trade idea and hence the timeframe used on the chart is Daily. The risk-reward is now favoring shorting, but because there are still some upside potentials (around 28 points or 112 ticks or US$1,400 per future), I recommend going long first but with a cautious approach (trail your stop) that prepares for a downside move.
I shall put this idea as a SHORT instead of the shorter-time LONG because this idea is really on a much higher timeframe.
Comment:
This is still valid.
Comment:
Tighten the stop.
