Daily ES update:
On the daily chart, we are in the process of a double zigzag formation from Jan. 2022 highs, with W and X currently being complete. In the Y (abc), leg (a) was completed on May 20th. Now, leg (b) of Y can be already completed (on May 31st), however, because of timing guidelines, I am considering the possibility of having a flat as wave (b).
To consider this possibility and have an idea of its potential targets and timing, I am comparing wave X (which was also developed as a flat) with this wave (b):
Now, lets look at the hourly chart, to see the subwaves and come up with potential targets:
On the daily chart, we are in the process of a double zigzag formation from Jan. 2022 highs, with W and X currently being complete. In the Y (abc), leg (a) was completed on May 20th. Now, leg (b) of Y can be already completed (on May 31st), however, because of timing guidelines, I am considering the possibility of having a flat as wave (b).
To consider this possibility and have an idea of its potential targets and timing, I am comparing wave X (which was also developed as a flat) with this wave (b):
Now, lets look at the hourly chart, to see the subwaves and come up with potential targets:
