February Fed Day Fibonacci Bouncing Update Feb 1
Wed, Feb 1, 12:41 PM ET, by Corey Rosenbloom
We’re using two Fibonacci Grids for planning trades in the intraday Emini as noted.
Price happens to be bouncing toward and away from these pivot levels perfectly.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Be sure to revisit last week’s updates regarding Market Internal Divergences and an expected pullback.
The logical daily chart target for the S&P 500 was the rising 20 day EMA near 2,270 which I updated for you.
The @ES continues to have the following Fibonacci Grid active, placing 2,263 again as the 50% retracement from which price reversed the prior two sessions.
Today gapped to our 2,281 level only to fall back to our 2,270 level as noted.
Price is moving rapidly – and today is a Fed day – but keeps these levels as intraday reversal points and targets.
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
This Article's Word Cloud:
More articles: 1 2 3 4 5 6 7 next »