The Crude Oil CL Surge November 7

Nov 7, 2017: 11:28 AM CST

It’s the Crude Oil Surge and Breakout!

Price reversed up off a key inflection point on positive divergences to set the stage for a bullish rally.

Let’s chart the course and update the levels for Crude Oil:

Chipotle CMG

In our weekly membership, we called for a bullish reversal up off the $45.00 pivot level as the beginning of a possible bullish rally phase.

We’re seeing that rally continue into the present with a series of higher highs and higher lows for Crude Oil along with price recently breaking firmly above the falling 200 day (red) SMA.

The initial targets (yellow highlight) of the prior two swing highs in price have been achieved as Oil continues to trade even higher in a new bullish phase.

Take a moment to review higher timeframe levels in the context of this new multi-month bullish swing in price and plan your trades accordingly.

Stay tuned as we continue to give you more daily updates and market commentaries!

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Vegas Expo 2017 Two Week Trial Member Special

Nov 5, 2017: 11:58 AM CST

If you’re new to Afraid to Trade or have been wanting to check us out, I wanted to extend an offer to come on in and see what we’re doing!

Here’s your chance to step behind the public blog to a two-week trial of our membership site:

Two Week Trial

I’ll also add a few bonus items for registering and joining us during your visit with us.

Go ahead and register now – I won’t keep this offer on the open blog long.

Take advantage of this special limited opportunity window!

Corey Continue Reading…

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Once again Market Hangs Out at the Highs to begin November

Nov 1, 2017: 2:34 PM CST

Will we get our expected retracement?

Let’s chart the course and update the plan for the S&P 500 right now:

Chipotle CMG

With price extending to a new all time high on this morning’s gap-up, we have a clear scenario.

Traditional odds do favor a pullback/retracement “down away from” the upper Bollinger Band “back toward” the rising 20 day EMA like we saw in late October.

However, our alternate thesis is the ongoing “bullish short-squeeze” without a retracement which would trigger on a firm breakout beyond 2,580.

In the alternate scenario case, we must ignore all aspects that keeps us logically cautious and bearish – and play the market up toward 2,600’s target.

Take a closer look at the intraday activity and plan your next trade(s) in terms of the departure from the upper Bollinger Band and 2,580 price pivot.

Stay tuned as we continue to give you more daily updates and market commentaries!

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Failed Reversal Takes us to New Lows for Chipotle CMG

Oct 30, 2017: 1:12 PM CST

Almost but not quite!

Chipotle (CMG) shares plunged to new lows today after failing to break resistance into a bullish breakout from support.

What’s the level and what’s the play from here?

Chipotle CMG

After another lengthy sell-off in shares, price (buyers) found support at the $300 level recently.

Positive divergences set the stage for a possible bullish reversal off this support level, and thus some traders logically bought into this key pivot.

Price did push up $35 higher toward the target of the falling 50 day EMA (blue) but buyers weren’t strong enough to generate a breakout and thus a bullish trend reversal.

The next move was yet another gap lower, shattering support as a new liquidation phase continued.

Chipotle (CMG) reminds us that trends tend to continue and surprises – via failed reversals – often come IN the direction of a prevailing price trend.

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A Wednesday Market Pullback to Support Target

Oct 25, 2017: 11:59 AM CST

Surprisingly, the market can actually trade lower!

Today saw a successful retracement swing – finally – toward the first target at the rising 20 day EMA.

What’s the level and what’s the play from here?

Netflix NFLX

In an uptrend, price typically swings up to a new high (toward the upper Bollinger Band) and then swings down to form a higher low as buyers step in (and bounce the market) up away from rising trendlines or moving averages.

This has been the case through most of 2017 except for October when price defied gravity in an extended upswing without a pullback.

TODAY we’re finally seeing that pullback to the safety zone and rising 20 day EMA target.

What’s the plan from here? Continue Reading…

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