ES1! - S&P 500 Short Leg to the south
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We have:
Counting 0 to 5 and we had a DT on point count 4. Now we wait for the 5 o a new low below the count 3
The orange A/R catches a lot of extremes, including the count 4 DT.
The red down-sloping pitchfork could give support on the U-MLH.
The pullback from 3 to 4 is EXACTLY 61.80% !
Guys & Gals, there is too much confluence IMO not to imagine that the ES1! will not make a new P5 Low.
This is ultra short to me, but of course, in these crazy markets only a proper stop can save us from a desaster. So use stops!
I'm short and I take my profit an P5 below P 3 if possible.
Counting 0 to 5 and we had a DT on point count 4. Now we wait for the 5 o a new low below the count 3
The orange A/R catches a lot of extremes, including the count 4 DT.
The red down-sloping pitchfork could give support on the U-MLH.
The pullback from 3 to 4 is EXACTLY 61.80% !
Guys & Gals, there is too much confluence IMO not to imagine that the ES1! will not make a new P5 Low.
This is ultra short to me, but of course, in these crazy markets only a proper stop can save us from a desaster. So use stops!
I'm short and I take my profit an P5 below P 3 if possible.
Note
Touchdown at the upper medianline parallel.Now it's decision time.
Because we ran up that much, and came down again, I don't expect this support to hold once more. So my bias is to the downside.
Let's find out and lets let it create a nice entry for us if you are not already short.
Patience is key.
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