Look at that Beautiful Emini Fibonacci Bounce Dec 23

Dec 23, 2016: 12:41 PM CST

It’s exciting – and lucrative – when price does exactly what it is supposed to do – again!

We expected price to continue trading within its range and thus fall “down toward” our 2,251 Fibonacci target.

That’s precisely what happened but what’s even better is that price reversed (bounced) higher exactly off our key target yesterday, generating a 10 point swing.

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

Despite an expected “holiday drift,” we’re instead seeing price maintain a 20 point trading range (as I highlighted in yesterday’s update) and now pull back once again to our “first Fibonacci” retracement at the 2,250 level.

For bigger picture planning today and Friday – both considered “holiday sessions” – form your trades on the departure “away from” the 2,250 key pivot.

Target 2,238 if beneath and back toward 2,270 if above – and 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).”

4 Comments

4 Responses to “Look at that Beautiful Emini Fibonacci Bounce Dec 23”

  1. Intelligent Trend Follower Says:

    Thanks for pointing out these price levels Corey. It’s impressive how the Fibonacci levels work so well and so consistently!

  2. Emini Relentlessly Runs for the Highs Dec 27 Update | Afraid to Trade.com Blog Says:

    […] “holiday drift,” we’re instead seeing price maintain a 20 point trading range (as I featured inFriday’s update) and now pull back once again to our “first Fibonacci” retracement at the 2,250 […]

  3. Benjamin Says:

    It will be interesting to see when this break comes from the range, but we just need to be very careful with how we go about handling things, as only then we will be able to perform well and achieve greater results. I do it all nicely under OctaFX, as they are very special been regulated plus a true ECN and that too an award winning one, so I feel absolutely happy with trading under them and benefits me in every way.

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