A New Trading Range Beneath the High May 12
Fri, May 12, 2:21 PM ET, by Corey Rosenbloom
The market can’t seem to break cleanly from this new sideways trading range beneath the high.
Here’s today’s updated Emini (@ES) trading levels for your trades:
We do have new Fibonacci Retracement levels but the market appears to be building a more specific range just beneath 2,380 and 2,390.
Those are simple reference levels you can see above with the yellow highlight.
Buyers and sellers poked price beyond this range but it keeps pulling back to the midpoint like a magnet.
That’s where we are, that’s what we’re trading. Frame your trades within this new range-level context.
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: "Retracement" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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