Emini Threatens to Crack Support in Retracement April 28
Fri, Apr 28, 2:11 PM ET, by Corey Rosenbloom
After a surge toward the prior high, we’re seeing a logical pullback toward a key price pivot.
Here’s today’s updated Emini (@ES) trading levels for your trades:
We’ve seen a powerfully impulsive breakout from 2,350 toward the 2,400 target and here is the natural pullback.
Watch our “Final Fib” level at 2,381 which is exactly where buyers and sellers are balanced at the moment.
Note the “deeper pullback” plan beneath it and the “another bullish bounce” plan above it.
Either way, frame your intraday trades in terms of the “departure” from 2,381.
This is somewhat of a repeat strategy from yesterday’s session as price bounced then returned to our critical pivot.
If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”
SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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