The Breakout is Finally Happening Jan 25 Update
The market just became exciting again!
After a month in a well-defined sideways trading range, buyers finally won the battle against sellers, resulting in an initial breakout and now a powerful short-squeeze (breakout) in motion.
Here’s today’s updated Emini (@ES) trading levels for your trades:
Fortunately, we have an exciting and profitable bullish breakout OUT OF our sideways trading range.
Unfortunately, we don’t have clear Fibonacci or other key price levels to use as overhead resistance (or support).
In a breakout market, a “feedback loop” occurs when bulls buy (to enter) and bears buy (to exit).
Take a moment to review yesterday’s post on “Creeper Trend Days” and add that knowledge to today’s market.
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
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).”
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