A New Trading Range Beneath the High May 12

May 12, 2017: 1:18 PM CST

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!

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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).”

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