Daily Analysis of ES / Correction coming? by ThinkingAntsOk
Use this as a guide to develop your view of the chart
Main items we can see on the Daily timeframe:
a)Based on the previous short movements we can see a pattern (all of them are composed by a first impulse, then an ABC pattern and then a second impulse)
b)We think based on the level we are currently on (massive support zone) that the first impulse is finished
c)We expect an ABC pattern coming, as a correction of the current bearish movement
d)This can be a good scenario for long setups in the coming week with the idea of catching wave A of the correction and closing it on the target
e)Which Target? We expect a movement towards 2800
Main items we can see on the Daily timeframe:
a)Based on the previous short movements we can see a pattern (all of them are composed by a first impulse, then an ABC pattern and then a second impulse)
b)We think based on the level we are currently on (massive support zone) that the first impulse is finished
c)We expect an ABC pattern coming, as a correction of the current bearish movement
d)This can be a good scenario for long setups in the coming week with the idea of catching wave A of the correction and closing it on the target
e)Which Target? We expect a movement towards 2800