ES seems to be going up for its last liquidity grab as a 3 wave ABC zig zag structure before labeled in purple.
After which it most probably get rejected by the high seller pressure in the 4200 region. and complete the 2 second wave of a larger timeframe and start its third wave downwards into the 3900-4000s.
This wave 2 structure also helps destroy shorts before the final downward move.
After which it most probably get rejected by the high seller pressure in the 4200 region. and complete the 2 second wave of a larger timeframe and start its third wave downwards into the 3900-4000s.
This wave 2 structure also helps destroy shorts before the final downward move.