2min ES Chart

Here is another “tip” for what I do here myself. When I have a confident picture of the “larger degree picture” like yesterday, I then aggressively look for any setup that falls in that direction. For this I use the Elliott Wave tool as well as the automatic setups, looking for ABC corrections.... But when I see an “manual” ABC pattern, I like to look at the “lower” time frame to “gain confidence” in the setup. Here I look for the “manual” ABC on the 3min Chart to be an “automatic” setup on the shorter term 2 or even 1min charts. I do not use these shorter term charts to actually trade from, I just use them for “confidence” in the pattern.

Here we had an automatic TS3 sell setup on the 2min ES at the same time as the manual ABC high on the 3min. In this way, we had extra confidence in the 3min ABC pattern. As you will have seen form the Standard Blog, this had you short as the ES continued to decline.

Thanks, Steve