Essential Emini Fibonacci Level Update October 5

Oct 5, 2016: 10:58 AM CST

Be sure to bookmark us and follow along each morning with our early Emini updates!

It’s amazing how well price remains within our specific price levels and triangle trendlines – as we’ll see below.

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

Here’s a reference guide of how to use and trade from these morning updates.

We’ve been tracking a triangle as price compressed between the red and green trendlines and our Fibonacci Levels.

Look closely – today’s high and low are our 2,148 and 2,157 pivots which is the important highlighted range.

Simply stated (and members get much more detailed planning and analysis), PLAY THE RANGE until price breaks OUT of the range into a likely impulsive swing away from the 2,155 level.

We thought we saw a possible breakdown yesterday but instead it was a Bear Trap with today’s reversal.

Want these levels and additional strategy planning in advance each evening?

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Corey Rosenbloom, CMT

Afraid to Trade.com

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).

2 Comments

2 Responses to “Essential Emini Fibonacci Level Update October 5”

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  2. Shah Says:

    We always got to be very wise with how we deal up with things since only then we will be able to perform well. I always prefer to trade through these price levels, but at the moment, it’s extremely confusing how things are going to be working out, so got to be very wise and for me, it’s ever easier with broker like OctaFX which is rocking having tidy spreads, high leverages, zero balance protection and much such facility to work with.