Emini Fibonacci Breakdown Update December 28

Dec 28, 2016: 12:46 PM CST

Is that an actual breakdown on a holiday week?

Price shattered our First Fibonacci line of defense, opening up a new phase in our holiday week trading.

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

From mid-December to present, price remained in a 20 point trading range between 2,250 and 2,270.

This morning, we’re seeing a break beneath the 2,250 level that opens a new sell-swing pathway toward our 2,238 Fibonacci Target (38.2%).

It’s surprising that price gapped back higher toward the 2,270 target and then instantly collapsed to the 2,250 level.

Be on guard for a bear trap snap (bullish) reversal back above 2,250 but absent this, play toward 2,238.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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2 Comments

2 Responses to “Emini Fibonacci Breakdown Update December 28”

  1. Emini Trades Down Toward and Reverses at our Fibonacci Target Dec 29 | Afraid to Trade.com Blog Says:

    […] I mentioned in the teaser, we were targeting the 2,238 level IF and WHEN price broke under our 2,251 level as was expected for a steeper […]

  2. Roshni Says:

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