sngyuchao

ES Long: End of a Complex Correction, leading diagonal start

Long
CME_MINI:ES1!   Futures E-mini S&P 500
Recently I have been posting ES long ideas calling for a wave 3. Unfortunately, it seems that these calls were premature even though it would have been profitable for the short-term that the idea was published. The recent move down has led me to revise my counts again. This time, however, it is still a bullish call.

There are a couple noteworthy items in the recent setup:
1. The recent low (3020.25) was just 2 ticks away from the previous low made on 24th Jun (3019.75), a major support zone.
2. The leading diagonal that I've drawn has the 3rd wave and 5th wave of equal length.

I would say that this idea will be invalidated if price breaches the low of 3020.25.

Good luck trading!

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