Plan to close short position if today high is surpassed and open long position then set target at Friday high. Set stop at the last low.
Some info for ES intraday scalpers....( ie not aimed at intra swingers just scalpers after quick points) When there's not alts in play, the Players look towards the 5 min Opening Range (OR) Bar as support. They'll set a Stop and reverse order just under the 5min opening range Bar low, so they can also be onbard a opening range Hook sell trade if the OR low gets take out.
Sell signal confirmed by the third lower low for today. Position is not yet reversed. Hold short position.
Open long position and set target at Friday high. Set stop at the last low. Subminuette wave iii might have ended as descending wedge as Mup said.
I do like ED's I know this is a bit late, I just had a DSL failure & being on back up dial up connection was no fun Its another good example of how good ALT waves are as Trade points. You can always buy them with a double up stop order below ( 3 ticks is the fav) so your on the right side of the trade either way....