Breaking Out to New Highs Feb 9
Thu, Feb 9, 12:21 PM ET, by Corey Rosenbloom
The uptrend continues! And continues… and continues.
Today we’re seeing another breakout to new highs from these series of sideways ranges we’ve seen lately.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Here’s a quote to reference from Tuesday’s member report:
We’re still cautious/neutral (see intraday chart) at the highs until we do get a breakout – and possible short-squeeze rally – above 2,300.
There will be no known/obvious targets above 2,300 so play bullishly until or unless we see a “bull trap” that returns price back under 2,300.
And there goes the market! There goes the breakout.
We’re on “Breakout or Bull Trap” watch right now and will frame our trades accordingly.
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: "Breakout" Definition
SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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