ES Daily Harmonic Elliott Wave Analysis
Hi traders,
Overview: lets refer to my update of July 29th: "considering the current strength, I am now considering that right now we are in wave (III) of c. Wave a and b of (III) have been completed and currently we are completing wave 3 of c of (III)."
Update: we don't need much update to the hourly count. I see wave (III) of c of X completed. Now, we should head lower to complete wave (IV) of c of X and then final push to complete wave X. Since wave (II) of c of X has been a deep zigzag correction, wave (IV) is most probably a shallow flat/triangle type of correction. A potential bottom point for wave (IV) can be 4065 area, but this is only an estimate, since we don't have the subwaves of wave (IV) developed yet and it is not possible to have a narrow price range in mind for where it is going to end.
Overview: lets refer to my update of July 29th: "considering the current strength, I am now considering that right now we are in wave (III) of c. Wave a and b of (III) have been completed and currently we are completing wave 3 of c of (III)."
Update: we don't need much update to the hourly count. I see wave (III) of c of X completed. Now, we should head lower to complete wave (IV) of c of X and then final push to complete wave X. Since wave (II) of c of X has been a deep zigzag correction, wave (IV) is most probably a shallow flat/triangle type of correction. A potential bottom point for wave (IV) can be 4065 area, but this is only an estimate, since we don't have the subwaves of wave (IV) developed yet and it is not possible to have a narrow price range in mind for where it is going to end.
