Like Magic our Emini Fibonacci Target Holds June 10
“Do you believe in magic?”
Ok Fibonacci Levels aren’t magic but they’re certainly interesting when they work perfectly.
Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:
Here are the the bullet-points from yesterday’s update:
- A short-term Ascending Triangle developed between the 2,100 and 2,115 price levels.
- Negative divergences undercut (fail to confirm) the new highs into the 2,115 resistance target.
- The market is overextended and (arguably) overbought.
Be sure to read yesterday’s update along with the prior session for additional information.
We targeted the 2,087 @ES level for a downside swing and that’s precisely what occurred.
Buyers are bouncing price up away from this key short-term target level this morning.
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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).
Yes, it’s very true and I strongly believe Forex is no magic, but all about hard work and planning, if we are capable of doing that then we shouldn’t be worried about too much. I always focus on good plan to make things work out correctly for me and I must say, it’s so much easier with OctaFX broker given their mouth-watering conditions which include tidy spreads starting from 0.1 pips while there is also cTrader platform to work on!