Hey Look at that Emini Range January 10

Jan 10, 2017: 2:49 PM CST

Bull Trap? Breakout? Both bulls and bears and fighting for dominance… and neither side is winning right now.

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

Our bullish V-Spike Reversal (blue) 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.

An initial trap triggered Monday with the return under 2,270 but it’s possible we’re seeing a SECOND trap today.

Our focus point is 2,270 and when one side wins the battle, we’re likely to see a big move either way.

If above new highs, join the bulls and buy toward 2,300; if under 2,260, join the bears toward our Fibonacci levels.

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!

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Corey Rosenbloom, CMT

Afraid to Trade.com

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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).”

1 Comment

One Response to “Hey Look at that Emini Range January 10”

  1. Adnan Says:

    To be fair, I really find trading good in such situations especially for scalping, but it’s obvious that long term trading is hard in such situations. I love scalping and it helps a lot with broker like OctaFX, as they are truly special with having incredible tiny spreads that starts from 0.1 pips while they also have mind boggling cash back scheme to give 50% back on all trades including losing trades too, so works so nicely for me in every way!