April 22 Pullback Continues New Emini Level Updates

Apr 22, 2016: 12:16 PM CST

Today logically continued the pullback began from the 2,100 level.

We’re now at our initial Fibonacci Grid target.  What’s the level and what is our plan from here?

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

As the @ES traded up through the 2,100 “Round Number” target level, a build-up of negative momentum and TICK divergences (red arrows) suggested a pullback was likely.

We’re seeing that pullback continue today with price pulling back over 20 @ES points from the high.

With the pullback underway, let’s update our Fibonacci Grid levels.

The pullback achieved the 2,075 (38.2%) target today and that now serves as our short-term bull/bear pivot level.

A further breakdown targets both 2,065 and then 2,056 on a deeper retracement from the high.

For now and the rest of the trading day, focus on the possible bounce emerging off the 2,075 target now.

As you plan and adjust your trades today, focus on this grid and the overwhelmingly strong ‘creeper’ uptrend that’s not confirmed with momentum or internals.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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3 Responses to “April 22 Pullback Continues New Emini Level Updates”

  1. April 25 Fibonacci Level Update and Pullback Plan for Eminis | Afraid to Trade.com Blog Says:

    […] Price reversed and bounced off our FIRST target into 2,075 (38.2%) level.  See April 22nd’s successful plan. […]

  2. Expected Pullback Continues to Known Target Levels - TradingGods.net Says:

    […] Price reversed and bounced off our FIRST target into 2,075 (38.2%) level.  See April 22nd’s successful plan. […]

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