Creeper Emini Trend to New Highs Revealed July 20
Thu, Jul 20, 11:51 AM ET, by Corey Rosenbloom
The bulls charge forward, carving out a new all-time high this morning.
This afternoon doesn’t look so bullish – but let’s update our chart and note what’s new.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Bull bull bull! Breakout breakout breakout!
A “Creeper Trend” emerged after July 12th’s trendline breakout.
We call this a “Positive Feedback Loop” where higher prices CAUSE higher prices – namely from buyers buying or adding to existing positions, playing off greed, and short-sellers/bears buying-to-cover losing positions, playing off fears.
Greed and fear – it’s the core of what drives the market. Making a quick profit or avoiding a loss.
So here we are, extending a rally higher through “Open air” in an ongoing intraday uptrend in the context – as I keep repeating to members – of a triple timeframe bull market.
Watch your rising moving averages in the chart above and flip cautious if price breaks beneath them soon or remain pro-trend bullish while price creeps above them.
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: "Breakout" Definition
SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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