Updated Emini Fibonacci Grid at the Highs June 7
Wed, Jun 7, 12:41 PM ET, by Corey Rosenbloom
With our short-term pullback plan in motion, what levels are important and what’s the daily update?
Here’s your short-term Emini Fibonacci Retracement Grid and Target Levels:
The non-stop bull market hit a snag this yesterday, and we were planning for this as seen in last Friday’s “Planning a Pullback in the Emini.”
We’re seeing a very short-term support shelf at the 2,430 level.
If sellers crack the market under 2,340, we’ll expect a natural pullback to our original 2,415/2,418 target.
As an added bonus, look closely how Breadth Divergences set the stage for minor rallies and retracements along the way.
Make note of our Positive Breadth Divergence this morning, and reference the shallow sideways pullback at the end of May.
In this non-stop bullish market, make a plan for a bullish scenario if buyers hold support and rally us through to new all time highs again.
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!
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Corey Rosenbloom, CMT
Afraid to Trade.com
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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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