Time to take advantage of the ES_F correction?
Greetings traders. Upon viewing the Mini S&P, it seems a few factors have lined up to provide a shorting opportunity! First we have a great test and rejection of structural resistance around the 4475 area which lined up with the retracement zone of the move from 4550 down to 4293. Since then, we have put in an nicely formed impulse that diverges well between wavs 3 and 5. On top of that, price has formed a bat pattern that lends weight to a reversal that seems to be already under way! I am going to try a short with a target zone between 4383 and 4362 with stops above 4440! Good luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.