In reaction to yesterday’s Fed Minutes report, sellers collapsed the market back inside our larger Fibonacci Grid.
However, buyers stepped in this morning exactly at our 38.2% level. Exciting!
Here’s today’s updated Emini (@ES) trading levels for your trades:
Traders hate traps but they are a factor of trading life.
Yesterday’s Bull Trap (failed initial breakout) sent shares tumbling back toward our key 2,345 target.
This morning’s rally took us – for now – to the midpoint of our highlighted Fibonacci targets within the range.
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