It was so nice the market did it twice! And today makes three times the market tested our key support level.
Price is “trying to” build a rally up away from this pivot but if buyers don’t step in, we have clear downside targets.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Here we are! Achieving the 2,368 “First Fibonacci” target (23.6%) once again (it’s also a price pivot).
All days so far this week gave us an early (potential) reversal up away from our target – so focus your attention here.
We have a trendline we can draw that gives us a bullish pathway higher above 2,370 or else a bearish breakdown path beneath the 2,365 level (highlighted).
If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!
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