Final Fib Emini Update March 27
Mon, Mar 27, 11:51 AM ET, by Corey Rosenbloom
The weekend collapse took us straight into our “Final Fibonacci” Target, where we’re seeing a morning rally.
Here’s today’s updated Emini (@ES) trading levels for your trades:
We got it right again in the strategy planning for members, as I wrote Friday:
We’re perhaps nearing the end of the retracement or at least the end of the “C Wave” of the structure.
This would suggest a future downside break toward 2,323.
Play bearishly if the market breaks down away from the lower Fibonacci target at 2,338 which has already been broken twice during the sell-off.
As you can see, not only did price crash down toward 2,338 but also (so far) held support and reversed UP AWAY FROM our Fibonacci Target.
Seriously, use these levels as intraday trading decision support and planning. They work.
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).”
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SDI Glossary: "Trend" Definition
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