If bulls can breach the $ES down channel (green arrow) and especially if they can take out the prior high (red arrow), we will have a pretty convincing impulsive rally on our hands and I would gain faith in the idea posted yesterday. Levels for the 3rd minute (blue) wave could be the typical orange box, but if there are a lot of stops above prior highs we can even extend to the other extensions I’ve noted in the chart.
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