ES count I'm following
Count I'm following still playing out and respecting Elliott Wave / Fib rules. Quick rundown of the overview I think price action is in:
Blue = in overall larger degree ABC blue count. In Blue Wave C
--> target upside is around $4987
White = smaller degree ABC within blue ABC. I have the White ABC making up the Blue C wave. In White Wave C within Blue Wave C
--> target upside is first $4968
Green = smaller degree ABC within White ABC. In Wave C shown as (c)
--> target upside first $4832. I think if the count is overall correct, green wave C can go to the 1.618 extension at $4985. This aligns with both targets up with White and Blue.
Light Blue = trying to predict a smaller degree impulse wave within Green ABC shown as i, ii, iii … Currently hanging back around resistance after making a high. It would make EW theory sense that to get over resistance with some strong backing, we retrace for wave “ii” and that gives us the powerful wave “iii” to run up
--> target upside for wave “iii” after retracing is $4894
Currently I have small straddle position to catch any potential fast movements up or down. I'll add calls on retrace with a stop loss should the EW retrace rules become invalid.
I’ll post potential Bear count / bull invalidation downwards after this post.
Blue = in overall larger degree ABC blue count. In Blue Wave C
--> target upside is around $4987
White = smaller degree ABC within blue ABC. I have the White ABC making up the Blue C wave. In White Wave C within Blue Wave C
--> target upside is first $4968
Green = smaller degree ABC within White ABC. In Wave C shown as (c)
--> target upside first $4832. I think if the count is overall correct, green wave C can go to the 1.618 extension at $4985. This aligns with both targets up with White and Blue.
Light Blue = trying to predict a smaller degree impulse wave within Green ABC shown as i, ii, iii … Currently hanging back around resistance after making a high. It would make EW theory sense that to get over resistance with some strong backing, we retrace for wave “ii” and that gives us the powerful wave “iii” to run up
--> target upside for wave “iii” after retracing is $4894
Currently I have small straddle position to catch any potential fast movements up or down. I'll add calls on retrace with a stop loss should the EW retrace rules become invalid.
I’ll post potential Bear count / bull invalidation downwards after this post.
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