Triangle vs Fibonacci Emini Update October 10
What’s superior – the Triangle Pattern or our Fibonacci Grid? Or both?!
Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your trades:
Here’s a reference guide of how to use and trade from these morning updates.
We’ve been highlighting the Symmetrical Triangle (red/green) in our plans and we’re seeing price bounce up away from the lower boundary (and 38.2% Fibonacci Level) to the upper trendline (above the 61.8% level).
The main idea is that there is a gravitational force – a Magnet – between 2,139 and 2,157 in the @ES.
We’re seeing a push up through this level into our upper trendline.
IF price continues higher THEN we’ll expect a movement toward 2,169 or higher.
However, if the triangle holds price and pulls it lower – like a Magnet – then we’re bearish under 2,160.
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Corey Rosenbloom, CMT
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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).
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