Thankful to be Back Up and Ready to Go!

Jun 29, 2017: 8:23 PM CST

I’m so thankful for your patience this last week as we upgraded our site and transferred it to a new hosting company.

The process took longer than expected but we’re ready to get back up and running without missing too many beats!

Stay tuned as we provide daily commentary and strategies for active day and swing traders here at Afraid to Trade!

Corey Rosenbloom, CMT

 

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A New Trading Range Beneath the High May 12

May 12, 2017: 1:18 PM CST

The market can’t seem to break cleanly from this new sideways trading range beneath the high.

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

We do have new Fibonacci Retracement levels but the market appears to be building a more specific range just beneath 2,380 and 2,390.

Those are simple reference levels you can see above with the yellow highlight.

Buyers and sellers poked price beyond this range but it keeps pulling back to the midpoint like a magnet.

That’s where we are, that’s what we’re trading.  Frame your trades within this new range-level context.

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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A Quick Emini Collapse to Support May 11

May 11, 2017: 10:38 AM CST

Well that was fast! Price collapsed from the 2,340 target to our 2,380 downside target this morning – and bounced.

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

In the membership we were ready to trade aggressively short if price broke the 2,390 support shelf… and price collapsed faster than expected.

However, we did see price touch and reverse sharply up away from our known target, putting us back within the range.

Continue playing the bounces between these levels as you frame your intraday trades.

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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Crude Oil Finally Snaps Intraday Downtrend with Breakout

May 10, 2017: 12:18 PM CST

After a horrid intraday downtrend collapsed price from $54.00 to $45.00 per barrel, Crude Oil finally snapped the downtrend with an impulsive breakout today.

Here’s the progression and target levels:

In the weekly membership, we had a sell-signal opportunity with negative divergences into the $54.00 target.

From there, price fell toward our $50.00 target and then beneath that as the downtrend accelerated toward $45.00.

Positive divergences and a momentum kick-off on May 5th set the stage for a possible early reversal.

We’re seeing confirmation of that reversal this morning with a breakout beyond $47.00 which reflects two (similar) falling trendlines and the 23.60% Fibonacci Level.

From here, look for a push at least toward $48.50 which is the 38.2% Fibonacci Retracement Level along with a prior price low.

We’ll tilt bullishly on Crude Oil (short-term/intraday) while price is above the $47.00 key pivot.

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Corey Rosenbloom, CMT Continue Reading…

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Emini Remains at the Highs for May 10 Morning Plan

May 10, 2017: 12:01 PM CST

To the highs!  Then back away from them. Then back to the highs!!  Then back away from them.  Oh well.

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

Friday gave us a big bullish breakout of the short-term (highlighted) trading range above the 2,380 support pivot.

Yesterday gave us a pullback to retest the breakout at the 2,390 level with price gapping back to the high,

Then price pulled back as would be logical toward the 2,390 “breakout” support level.

Price is trading between simple levels – like 2,380, 2,390, and 2,400 – so keep these in focus as you continue to play the “toward” and “away from” style of game planning.

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!

Continue Reading…

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