Pullback Planning Levels if it Happens Feb 17

Feb 17, 2017: 11:41 AM CST

With another down open, will bulls buy the dip again like yesterday and close us higher?

Or will the pullback strengthen, opening up a sell-swing to lower targets?  Let’s find out our plan.

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

It’s easy to get caught up in euphoria but markets can change rapidly; overconfidence can trap traders quickly.

Here we are with the second pullback to the rising 20 EMA (30-min) along with a new Fibonacci Grid update.

We’re seeing the market retest the 2,340 level but this time on a sideways pullback with a new short-term (intraday) support and resistance pivot.

Note the highlighted colors to indicate the bull or bear (breakout) pathway toward 2,330 or to indefinite new highs.

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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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).”

3 Comments

3 Responses to “Pullback Planning Levels if it Happens Feb 17”

  1. Will Bulls Buy the Dip? - TradingGods.net Says:

    […] By Corey Rosenbloom […]

  2. James Tayloer Says:

    I think it could be better to go for long trade according to the chart, but it is really hard to guess. I always go with solid money management, it’s easier with broker like TradeWiseFX , as they are extra-ordinary with having 50% bonus on deposit, and I truly love it in every way!

  3. James Tayloer Says:

    I think it could be better to go for long trade according to the chart, but it is really hard to guess. I always go with solid money management, it’s easier with broker like TradeWiseFX , as they are extra-ordinary with having 50% bonus on deposit, and I truly love it in every way!