ES1!: Santa is NOT coming to town
I spent the day charting and came up with this interesting bearish scenario for the ES1!
Confluences at point C of the ABCD zigzag include:
0.618-0.660 fib retracement pocket
0.618-0.660 fib band on reflected pitchfork
Oversold on the Money Flow indicator
Bordered by 1.382 and 1.786 Fib Time Pivots
Looks similar to the peak on Aug 16th
So if the reversal plays out we could expect a move down with the target of the the ABCD zigzag down at $3223. Lots of structure in between here and there, so I drew in a possible pattern. There are also some other fib time pivots in there that lined up.
Confluences at point C of the ABCD zigzag include:
0.618-0.660 fib retracement pocket
0.618-0.660 fib band on reflected pitchfork
Oversold on the Money Flow indicator
Bordered by 1.382 and 1.786 Fib Time Pivots
Looks similar to the peak on Aug 16th
So if the reversal plays out we could expect a move down with the target of the the ABCD zigzag down at $3223. Lots of structure in between here and there, so I drew in a possible pattern. There are also some other fib time pivots in there that lined up.
The Paper Traders @ discord.gg/hsD8vKDbDE
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