Tuesday, May 7, 2013

ES - Gap Fill Scenario

I wanted to look at how ES may trade after today's close. I expect an intra-day reversal on Wednesday to be followed by five-wave gap fill over the next two to three trading sessions. This will be a very quick and decisive trade. Below is my projected chart.

Warning: this is not a very popular market view, and goes completely against the grain. New traders are advised to use extreme caution and tight stops while executing this setup.

click on chart to enlarge

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