đ¨ $E-mini S&P 500 - main 2612(ESmain)$ JUST PRINTED WAVE 5!
ES briefly wicked below the Momentum Break at 7,582 â but the level held.
There was another important detail: Wave 4 remained smaller than Wave 2, keeping the 5-wave structure intact. From there, price pushed to a fresh high and completed Wave 5. đ
So, what's the next directional move after 5 waves up?
đ THE ANSWER: 3 WAVES DOWN.
Most of you got it right!
đť What's next for ES?
A completed 5-wave advance is typically followed by a 3-wave corrective move.
That means we're now looking for an ABC pullback:
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Wave A: Initial move lower
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Wave B: Corrective bounce
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Wave C: Final leg down
đŻ Here's the key: I want to BUY the C wave.
This is a pullback, NOT a market top.
I'm not looking to chase the rally or turn bearish just because the 5-wave advance is complete. The goal is to let the ABC correction develop, then look for an opportunity to get long as Wave C reaches its completion.
Patience first. Then look for the next entry. đ
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