• Home
  • /
  • Blog
  • /
  • Elliott Wave Update – ES – June 22, 2021

Elliott Wave Update – ES – June 22, 2021

Tuesday’s trade did reveal enough that the ES was again moving higher in a 5 wave sequence.  This has in turn put the two downside scenarios on the sidelines for now.  Within minute wave 5 it appears that waves 1 and 2 are complete with wave 3 underway.  Wave 3 is also subdividing and that should keep pull backs on the shallow side as the stronger bias remains up with expectations for the ES to reach next resistance at 4252 to 4258.  Ultimately though wave 3 should reach up into the next resistance zone at 4270 to 4285 before pulling back in a 4th wave.  The final high is still expected to be above 4300.  Remember, to continue to trade what is in front of you and use Fibonacci levels along with the moving averages and the Elliott counts to help guide you along the way.


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.