April 8 Emini Intraday Trading Range Level Update
We’re seeing higher volatility, sequential Trend Days, and larger than normal gaps recently.
This is a heightened volatility and thus heightened risk environment so monitor positions closely.
Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:
To get a sense of the real-time progress and set-ups as it developed, see Tuesday’s morning level update along with Wednesday’s level update.
Thursday gave us a breakout and today returns us right back inside that range.
The main levels are the same: 2,047 (38.2%), 2,034 (61.8%) and the Midpoint (coming into play now) at 2,040.
I also drew a rising trendline (black) that connected the prior swing lows and reversals higher.
For today’s session – the gap up and return BACK within the range – we’re focusing right now on 2,040.
Use it as your key pivot and look to trade the departure away from this – and other – target levels in an environment of suddenly high-volatility environment.
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
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).
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