Fascinating Fibonacci as Emini Plays within Grid May 19
Fri, May 19, 1:11 PM ET, by Corey Rosenbloom
Even in a period of high volatility, our Fibonacci Retracement Grid serves as an important reference for short-term traders.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Price fell from the highs all the way to the 61.8% Fibonacci Retracement level at 2,355 and now we’re seeing a strong swing up through the key levels.
These are intraday targets and potential reversal/fade trade entries – note how price reversed intraday at the two higher levels.
Now we’re seeing a play back to the 23.6% level at 2,385, making us cautious into this key pivot… and bullish once again above it.
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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