CME_MINI:ES1!   S&P 500 E-mini Futures
The ES has been trading in a range since 18 May. The probability of the price hitting the highs and going through is high bearing in mind that this is part of a larger move established since 14 May.
Thus am expecting the range to be an accumulation for a move higher baring unexpected news or geopolitical incidents.
The important thing being placing any trade is to wait for the price action to confirm the move for a high probability trade with a lucrative risk-reward ratio. Always aim for at least 1:1.5RR

Comments

I'm still learning EW but I believe that wave 3 cannot be the shortest wave.
+1 Reply
@The_Real_AMF, Hey sorry just used the tool. Thiss is not EW analysis, it's price action and market structures. I will avoid that in future. Thanks
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The_Real_AMF TradingSkillsCoach
@TradingSkillsCoach, Ahhhh, no worries, mate! Just wanted to share.
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