April 27 Fed Day Emini Range Trading Level Update
The @ES build a key short-term trading range based on new Fibonacci Retracement levels.
With today being a Fed Day later, will price break free of this range? Chair Yellen, we’re waiting on you.
Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:
Cutting straight to the point, our short-term Fibonacci Retracement levels are 2,087 (expanding to 2,090) and 2,075.
We’ve successfully traded between these levels over the last few sessions (yellow highlight).
If today’s Fed Day serves a catalyst, we’ll be pro-trend “short-squeezed” bullish above the 2,090 level into 2,100.
Otherwise a short-sell liquidation breakdown triggers under the 2,075 level toward 2,065 at least.
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Corey Rosenbloom, CMT
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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).