A Triangle at the Highs Emini Update June 8

Jun 8, 2016: 12:36 PM CST

Breakout!  Or at least a hold at yesterday’s breakout resistance.

Price is forming a short-term triangle with clear trading levels on the impending breakout.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

There’s a few things we’re watching as we trade the @ES here:

A short-term Ascending Triangle developed between the 2,100 and 2,115 price levels.

Negative divergences undercut (fail to confirm) the new highs into the 2,115 resistance target.

The market is overextended and (arguably) overbought.

Odds/probabilities favor a retracement down away from the 2,115 level (red path) but the alternate thesis – the bullish short-squeeze breakout event – allows for additional upside action toward (and above 2,120).

Use the chart and price levels above to your advantage as you plan and trade the real time action from these levels.

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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2 Comments

2 Responses to “A Triangle at the Highs Emini Update June 8”

  1. Retracement Begins June 9 Emini Update Levels | Afraid to Trade.com Blog Says:

    […] Begins June 9 Emini Update Levels Jun 9, 2016: 11:07 AM CST Our Triangle Breakout Plan described yesterday was […]

  2. Jubaida Says:

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