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!
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Follow Corey on Twitter: http://twitter.com/afraidtotrade