December Downward Emini Retracement Takes Over
I’m thrilled to know that logic prevails and price is doing what it “should” at the moment.
Odds overwhelmingly favored a pullback/retracement toward lower Fibonacci Retracement levels for the @ES and right now – as we start December – that’s exactly what we’re seeing.
Here’s today’s updated Emini (@ES) trading levels for your trades:
As traders, we can’t be forecasters – we must assess the probabilities and then act on them knowing full-well bigger moves tend to occur when the majority (of traders) are surprised and forced to stop-out rapidly.
That’s not occurring right now – odds strongly favored a pullback and that’s precisely what we’re seeing.
The initial target is the 2,180 pivot and if the retracement picks up steam from there, we’ll be playing toward 2,160.
I’ll have more details and precise planning for members – join us and make the rest of your 2016 more profitable!
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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).”
This week will be very interesting to see how it all runs out, it’s vital that we trade with sensible approach and make sure we trade only when we are certain, if we trade without certainty then we could struggle. I don’t worry about it all much thanks to OctaFX broker, as they are very special with having low spreads, high leverage, zero balance protection and even swap free option is available, so that really makes trading easier and simpler.