Bam Goes the Emini Fibonacci Reversal at Target March 6
Mon, Mar 6, 1:11 PM ET, by Corey Rosenbloom
Did you think it was impossible for the market to pull back to the first Fibonacci Target?
I admit, it’s a little surprising, but it happened just as anticipated.
We’ve been eyeing the 2,368 level on the open blog and of course membership site and today it happened.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Here we are! Achieving the 2,368 “First Fibonacci” target (23.6%).
Here’s the strategy planning quote from our prior Member Strategy Plan (join us!):
Note that the target is the 30-min rising 50 EMA (support target) and just above the price and Fibonacci Pivot into 2,368.
With that, look to trade aggressively bearishly TOWARD 2,368 IF under 2,380 here.
That’s exactly what happened as we continued to trade the departure down away from 2,400.
Today gave us an early (potential) reversal up away from our target – so focus your attention here.
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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