After price broke out of our intraday triangle to achieve a downside target, we’re now seeing a rally off the lows.
Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your trades:
In playing the rally from the prior swing low near 2,110, I wrote to members last night:
“What now? We’re seeing – and traded – a BOUNCE/RALLY up away from our target and will focus our attention Friday on the 2,129 level once again, being bullish for a stronger bounce above [to target 2,139] (see Daily Chart).”
That’s exactly what happened this morning and now we’re yet again seeing a move down away from our 2,139 target.
Surprise surprise – we’re focusing on 2,128 for a possible bounce/reversal here – again off a key Fibonacci Level.
For more daily updates from Corey, visit his blog at Afraid to Trade.com.