In the ES (a little more likely than the NQ) the potential triangle we have showed for a few days now is still on the table. The ES 1-Hr chart is below in line fashion to make it a bit easier on those eyeballs.
The waves are getting "stupid silly". By Fibonacci ratio, Friday may have been c = a downward to a larger Ⓒ wave, with the diagonal we showed at the outset on the 11th as a leading diagonal and only a very minor truncation in the c wave. Today is possibly an a wave, up, and a b wave down.
Remember, if the triangle invalidates, then it is likely the inverse - some kind of 1-2 down. But, for now, there is no evidence of that.
Have an excellent rest of the evening,
TraderJoe
TJ, Is this kind of the thinking on how this triangle would fit in the larger structure?
ReplyDeletehttps://imgur.com/aN7xA2w
Yes, very close. I might have moved the wave 1 peak one crest to the right, but otherwise looks about right. TJ.
DeleteIntra-day series gaps...a rare sight indeed!!
ReplyDeleteES 30-min: just a reminder of the intraday wave-counting-screen. Price right now is "fighting a battle" at the 18-per (intraday) and the 100-per. There hasn't been a fractal break yet.
ReplyDeletehttps://invst.ly/141wdk
TJ
The up (green) fractal has broken first. TJ.
DeleteES 30-min: here the present situation : broke two up (green) fractals in the left panel. In the right panel, either x5 or 3, because the original "3" is longer than 1.
ReplyDeletehttps://invst.ly/141z0x
Be careful and good luck.
TJ
P.S. the third up (green) fractal in the left panel has not broken just yet. TJ.
DeleteES 30-min; there is c above a. TJ.
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ