ES Daily Harmonic Elliott Wave Analysis
Hi traders,
Overview: the best thing to say on this update is a sentence of my yesterday's idea: "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".
Update: exactly as expected, wave (IV) started developing as a flat correction and right now, we are in leg c of (IV). Potential targets for wave (IV) bottom (4065-4080):
From higher to lower degree waves:
1) Wave (IV) retracement of wave (III): 4067.5
2) Wave c ratio to wave a of (IV): 4071.25, 4082.5 and 4089.25
Overview: the best thing to say on this update is a sentence of my yesterday's idea: "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".
Update: exactly as expected, wave (IV) started developing as a flat correction and right now, we are in leg c of (IV). Potential targets for wave (IV) bottom (4065-4080):
From higher to lower degree waves:
1) Wave (IV) retracement of wave (III): 4067.5
2) Wave c ratio to wave a of (IV): 4071.25, 4082.5 and 4089.25
