This is a Very Tight Range for Traders Emini Jan 20
Fri, Jan 20, 1:11 PM ET, by Corey Rosenbloom
Stop what you’re doing and look at the trading range. Take off all indicators and focus on price.
We’re still trading within a clear range – no breakout yet – and today’s action fits perfectly in that context.
Here’s today’s updated Emini (@ES) trading levels for your trades:
We continue to see price – as planned – move within the 20 point trading range.
We’re back at the midpoint of an expected sell-swing “down away from” 2,270 as we trade through 2,250.
A future breakout is on the horizon but it’s not here yet. Play the range until we do get this future breakout.
We had a strong gap UP from 2,260’s Midpoint to 2,270’s trendline and then right back down to 2,250.
Love it or hate it – you should be indifferent – this is the hand the market is dealing all of us at the moment.
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
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SDI Glossary: "Trend" Definition
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