Like Magic our Emini Fibonacci Target Holds June 10

Jun 10, 2016: 10:43 AM CST

“Do you believe in magic?”

Ok Fibonacci Levels aren’t magic but they’re certainly interesting when they work perfectly.

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

Here are the the bullet-points from yesterday’s update:

  • A short-term Ascending Triangle developed between the 2,100 and 2,115 price levels.
  • Negative divergences undercut (fail to confirm) the new highs into the 2,115 resistance target.
  • The market is overextended and (arguably) overbought.

Be sure to read yesterday’s update along with the prior session for additional information.

We targeted the 2,087 @ES level for a downside swing and that’s precisely what occurred.

Buyers are bouncing price up away from this key short-term target level this morning.

Want these levels and additional analysis in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

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).

5 Comments

5 Responses to “Like Magic our Emini Fibonacci Target Holds June 10”

  1. June 10 Retracement to Target Market Update and Stock Scan | Afraid to Trade.com Blog Says:

    […] let’s view this morning’s update on the S&P 500 with respect to the broader picture and key […]

  2. More Magic Planning with Emini Fibonacci Target Update June 13 | Afraid to Trade.com Blog Says:

    […] Magic Planning with Emini Fibonacci Target Update June 13 Jun 13, 2016: 11:18 AM CST Like Friday’s morning bounce, we’re seeing our expected price swing play out to our lower Fibonacci […]

  3. Expected Price Swing to Play Out to Lower Fibonacci Target - TradingGods.net Says:

    […] 13, 2016 by Dan, The Trading God Leave a Comment Like Friday’s morning bounce, we’re seeing our expected price swing play out to our lower Fibonacci […]

  4. Seriously the Fibonacci Levels are Magic Emini Update June 14 | Afraid to Trade.com Blog Says:

    […] Here are the the bullet-points from prior updates ahead of the pullback: […]

  5. Rizwan Says:

    Yes, it’s very true and I strongly believe Forex is no magic, but all about hard work and planning, if we are capable of doing that then we shouldn’t be worried about too much. I always focus on good plan to make things work out correctly for me and I must say, it’s so much easier with OctaFX broker given their mouth-watering conditions which include tidy spreads starting from 0.1 pips while there is also cTrader platform to work on!