Emini Playing Again at the Highs January 9
Monday morning may be the beginning of a “bull trap” should price remain under the breakout high. Will it?
Here’s today’s updated Emini (@ES) trading levels for your trades:
Our bullish V-Spike Reversal off 2,228 set the stage for a continuation of the uptrend and bull market.
After two pullbacks (retracements), price surged to new all-time highs Friday.
However, Friday afternoon into Monday morning gave us a pullback under 2,270 which is a make-or-break point.
Should price remain beneath 2,270, expect a swing back toward 2,255 (failure to break out).
Any move back above 2,270 could trigger a powerful short-squeezed breakout but we’re not quite there yet.
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
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).”
To be fair, it’s likely hard to say where price might be heading, but we just need to make sure we are careful with how we approach things, as it’s what makes huge difference and if we are not careful then the risk factor would be very high. I do it all nicely with OctaFX broker, as they are awesome with having ideal conditions from low spreads 0.1 pips to high leverage up to 1.500 while there is also rebate program where I get 50% back on all trades!