Do my eyes deceive me or is that an actual authentic pullback in the @ES?
Our thesis for today was to trade the departure away from 2,400’s critical pivot and so far that’s worked well.
Here’s today’s updated Emini (@ES) trading levels for your trades:
With today’s pullback down away from 2,400 @ES, we do have a newly minted Fibonacci and Price overlap target at 2,368.
Of course, the initial target is right here at the rising 50 EMA near 2,380 which could easily be today’s reversal.
For now, focus on 2,380’s support as a possible turning point intraday – and 2,368 if beneath 2,380.
To sum, here’s a direct quote from our prior Member Strategy Plan (join us!):
We continue this thought for the rest of the week with a cautious note into 2,400 [expecting a pullback].
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
Follow Corey on Twitter: http://twitter.com/afraidtotrade