As our members know, we have had several profitable trades recently. In this technical article, we will present another Elliott Wave trading setup that we obtained in the SPX E-Mini (ES_F). ES_F completed this correction specifically in the isopod area, which is referred to as the blue box area. In the following sections, we will delve into the details of the observed Elliott Wave pattern, discuss trade setup and provide objectives.
ES_F Four-Hour Elliott Wave Chart 11.17.2025
The current display indicates that ES_F is forming a triple double correction (WXY is red). The price action shows an incomplete structure of the top. We expect an extension towards the extreme zone at 6004.76-6416.9, where we look to re-enter as buyers.
We recommend members avoid selling ES_F. Since the main trend is still bullish, we expect at least a three-wave bounce from the blue box area. Once the price touches the 50 Fib against the red X connector, we will make the positions risk-free, set stop loss at breakeven point and book partial profits. On the other hand, a breach of the 1.618 Fibonacci extension level at 6416.9 would invalidate the trade.
ES_F 1-Hour Elliott Wave Chart 11.17.2025
Futures extended towards the blue box (6004.76-6416.9), and found buyers as expected. ES_F shows a good bounce from the buy zone. The reaction reaches the 50 Fib region against the red conductor X. Therefore, any long positions from the blue box should now be risk-free. We set the stop loss at the break-even point and actually got partial profits. We believe that the correction has been completed at the low of 6594. While above this level, ES_F could head towards the 7031+ area.
