Possible Low Area: Good ops to short rip
We might be in bearish Elliot waves here on ES / SPX.
If we are, there's a good chance we are at a low point now and due to enter into an ABC correction.
A two leg spike with a bear trap (But no new low) in the middle.
Sets up a possible high RR short on the C point.
Most of the previous short forecast has hit now.
www.tradingview.com/...-Lower-High-Pattern/
If we are, there's a good chance we are at a low point now and due to enter into an ABC correction.
A two leg spike with a bear trap (But no new low) in the middle.
Sets up a possible high RR short on the C point.
Most of the previous short forecast has hit now.
www.tradingview.com/...-Lower-High-Pattern/
Comment:
Looks like rally might fail. Out longs at even.
Will maybe get in again if we rally but bear break could be bad. Would follow breakouts.
Will maybe get in again if we rally but bear break could be bad. Would follow breakouts.
Low made around 5050.
Rally to 5125.
Stop to 5000.
Rally to 5080.
Follow through drop can be a big one to 4990 area.