Playing the Jobs Report Fibonacci Bounce March 10
Fri, Mar 10, 1:11 PM ET, by Corey Rosenbloom
A slightly better than expected morning Jobs Report sent shares surging on Wall Street, gapping the market up.
Notice that we’re playing right now back into our key 2,368 Fibonacci Level which we’ll use as today’s plan.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Yesterday’s breakdown sent shares tumbling toward the 2,350 level and a V-Spike Reversal here (at the rising 20 day EMA) set the stage for today’s bullish continuation.
The gap up was short lived as price fell back to test the 2,368 Fibonacci and price reference level.
Let’s keep it super simple – trade bullishly if above 2,368 and bearishly if beneath it to the target levels.
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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