A Surging Breakout April 5 Emini Update
Wed, Apr 5, 11:31 AM ET, by Corey Rosenbloom
Here we go! Bulls are back in control with today’s opening action and Fib Grid breakout.
Here’s today’s updated Emini (@ES) trading levels for your trades:
A “Bull Flag” or “ABC” Elliott Correction took us toward the 61.8% larger Fibonacci Level.
Buyers surged back into the market, reversing price higher off the 2,320 key reversal target.
From there, the 23.6% and upper trendline served as a key target at which point sellers swiftly stepped in.
However, good economic data set the stage for a bullish breakout above the “Final Fib” pivot and upper trendline.
We’ll remain bullish in breakout territory unless/until price us back under the 2,365 upper Fibonacci Pivot.
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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