S&P 500 E-Mini Futures ( ES_F ) Made Rally From The Blue Box Area
June 14, 2023 By EWF Vlada
Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of E-Mini S&P 500 ( ES_F) published in members area of the website. ES_F is showing impulsive bullish sequences in the short term cycles. Recently we got a 3 waves pull back that has ended right at the Blue Box zone. In the further text we are going to explain the Elliott Wave Forecast.
ES_F Elliott Wave 1 Hour Chart 06.08.2022
Rally from the 4114.2 low is unfolding as impulsive bullish structure which is still calling for further upside. We got short term pull back in 3 waves that has reached extreme area 4267.7-4244.6 , blue box ( buying zone) . As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence. We already got some shallow reaction from the blue box. So, pull back could be already done. However we need to see further separation from the lows to get confirmation. Members who are long from the blue box should make position risk free once bounce reaches 50 Fibs against the b red high. We will put SL at BE and at the same time take partial profits from the trades. In case the price extends lower before bounce happens, and breaks 1.618 fib ext : 4244.6 , that would invalidate the trade.
Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup Green bullish stamp+ blue box = Buying Setup Charts with Black stamps are not tradable. 🚫
ES_F Elliott Wave 1 Hour Chart 06.08.2022
ES_F Elliott Wave 1 Hour Chart 06.08.2022
ES_F made very good rally from our buying zone. The futures has eventually broken toward new highs, confirming further extension up. Currently ES_F is approaching 4425.17-4475.4 area, where buyers could be taking profits. From that zone we can see some short term pull backs. We don’t recommend selling it in any proposed pull back against the main trend which is still bullish at the moment.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room
ES_F Elliott Wave 1 Hour Chart 06.08.2022
Elliott Wave Forecast
We cover 78 instruments in total, but it’s important to keep in mind that not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
Join us now and start learning from market experts. If you are looking for professional real-time analysis in Forex, Indices, commodities,Crypto currencies , stocks and ETFs you have come to the right place.
Welcome to Elliott Wave Forecast !
Source:https://elliottwave-forecast.com/trading/sp-500-e-mini-futures-es_f-lue-box/
Comments
If the price extends lower and invalidates the trade, it's like getting rejected by your crush. Ouch!
Time to make those positions risk-free and ride the bounce like a cowboy on a wild bull!
Buying in the Blue Box zone feels like finding a hidden treasure chest full of profit coins!
Wow, that Blue Box zone sounds like a magical place where all your bullish dreams come true!
Impulsive bullish sequences? It's like the stock market has its own dance moves