Bouncing Range Emini Target Level and Plan Update May 9

We’re seeing the expected bounce for the @ES forecast from last week’s positive divergences.

Price traded through two Fibonacci Retracement Targets. What are they?  What’s the plan now?

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

From our Daily and Weekly Planning, we were support-bounce bullish from divergences at the 2,040 @ES level.

Friday began a rally and Monday completed the price swing to the first (2,048) and second (2,060) targets.

I clarified our current intraday levels – for simplicity – with the codes above.

We’re NEUTRAL between 2,048 and 2,060; Bearish for a possible retest toward 2,040; and otherwise bigger picture bullish if price breaks above 2,060.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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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).

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One Comment

  1. It’s important to have simple plan, I have seen people always try to plan too much but often end up in the wrong side just because of not been able to execute it properly, so that’s why our primary objective needs to be with planning correctly and only then we could gain profits and success. I do nicely with help of OctaFX broker through their awesome features and facilities to do with low spreads, high leverage and many more such benefits.

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