As our members know we have had many profitable trading setups in Indies recently. In this technical article, we are going to present another Elliott Wave trading setup we got in SPX E-Mini (ES_F) . The futures has extended pull back, giving us another buying opportunity., ES_F completed this correction precisely at the Equal Legs zone, referred to as the Blue Box Area. In the following sections, we will delve into the specifics of the Elliott Wave pattern observed and discuss the corresponding trading setup in detail.ES_F Elliott Wave 1 Hour Asia Chart 04.05.2024Current view suggests ES_F are undergoing ((iv)) black correction. The price has reached a new extreme zone at 5205.5-5144.21, where we would like to be buyers again.We’re entering long positions within the Blue Box. As the main trend remains bullish, we anticipate at least a 3-wave bounce from this area. Once the price touches the 50 fibs against the (b) blue connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. Breaking below the 1.618 Fibonacci extension level at 5144.21 would invalidate the trade.More By This Author:Bank Of America Near Support Area Gold Miners ETF Extending Higher In Impulsive StructureNifty Pullback Should Continue To Find Buyers
