Hey Our Emini Fibonacci Levels are Working August 11

Aug 11, 2016: 12:33 PM CST

If you followed our update from yesterday, you had a perfect plan for profit on the intraday @ES frame.

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 still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

As expected, once price broke down under the 2,174 level, it set in motion what I called “a collision course” toward the 2,168 level which is the 38.2% Fibonacci Retracement.

The downside action was tradable AND the upside reversal from this level was also tradable into yesterday’s close.

We now see a bullish gap-up and short-squeeze through the Open Air (also discussed in last night’s report to members) back to our prior high.

We’ll use the 2,183 level as our focal point (pivot) for the remainder of today’s trading day.

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

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

Continue Reading…

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Dual Divergent Reversals in Stocks and Crude Oil

Aug 10, 2016: 1:39 PM CST

After holding at the highs, Stocks reversed lower today from their lofty heights.

Crude Oil did too but in less-spectacular fashion.

Let’s view the rally up and the reversal down – complete with mini-Elliott Waves and Negative Divergences.

Advanced traders can track cycles or swings in price.

We look for a specific pattern where a five-wave type advance ends with visual  negative momentum divergences.

If so, it increases the odds (expectations) of at least a decent pullback against the five-wave move.

We see this pattern up into yesterday’s high and today’s pullback on negative divergences (red arrow).

How low will price go?  I included the short-term Fibonacci Levels as a guide.

Oil already achieved its minimum target just now into the 38.2% level near $42.00.

The @ES is slightly shy of 2,167 which is its respective 38.2% pivot.

Look to the 61.8% targets should price break and remain under the 38.2% retracement.

While nothing’s perfect, these charts are great examples of correlated markets, Elliott Waves, and adding momentum as a confirming variable. Continue Reading…

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Emini Pullback Planning Fibonacci Grid August 10

Aug 10, 2016: 1:14 PM CST

Here’s our update for today!

Price pulled back and broke under our upper Fibonacci Level and now has a collision course for a lower price.

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 still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

With the two intraday Bull Trap reversals, our Fibonacci Grid updated to the 2,174 level.

That was the two prior intraday reversal lows but buyers lost the battle today.

Price broke under the 2,174 pivot and likely trades now down toward 2,168 and possibly lower than that.

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

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

Continue Reading…

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GoPro GPRO Boldly Breaks Resistance into Bullish Zone

Aug 8, 2016: 11:51 AM CST

We’re seeing GoPro Inc (GPRO) flash on our stock scan this morning as it’s breaking above key price resistance and the 200 day SMA.

What’s going on and what’s the possible play from here?  Let’s see!

At Afraid to Trade we look for “strong stocks getting stronger” and absolutely avoid trying to find alluring reversal points in “weak stocks in a downtrend.”

At this point, GoPro (GPRO) has proven itself with multiple bullish factors that culminated in a big breakout this morning.

Note the positive divergences, build-up in volume, and reversal into an uptrend from May to August.

We’re focusing on today’s bullish breakout above the 200 day SMA (red) and two prior price highs at the $14.00 per share level.

For swing and longer-term traders, GoPro is a buy/bullish candidate as long as it remains above the key $14.00 level.

We’ll keep watching and potentially trading this candidate into the “Open Air” beyond $14.00.

A simple upside target – into the future – would be the $20.00 level (a Round Number and prior high from January).

Either way, continue watching this stock and what happens immediately here at the $14.00 critical price point. Continue Reading…

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New Emini Fibonacci Retracement Grid August 8

Aug 8, 2016: 11:38 AM CST

Price jumped higher into the 2,180 @ES level this morning and (so far) pulled back from this pivot.

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 still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

We STILL haven’t seen a decent (more than 23.6%) retracement since late June!

Nevertheless, we continue to update our short-term Fibonacci Retracement Grid levels especially when price makes a new high.

For now, the key focal points for today’s session are the 2,180 high level and the 2,172 Fibonacci Level (23.6%).

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

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

Continue Reading…

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