The Emini Triangle Continues in the Fib Grid Sept 30

We’re still seeing price consolidate both within a short-term Triangle and our Fibonacci Grid.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

We’re seeing price compress within the falling red upper trendline (2,165) and lower rising green line (2,145).

Between that is our operating Fibonacci Levels at 2,148 and 2,157 (highlihted).

Today shows price moving “up away from” the lower trendline perhaps through the 2,157 level toward the upper line.

Focus on these levels as we cruise into October.

Want these levels and additional strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

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).


Afraid to Trade.com Blog

Who has been to Cuba on one of the newly approved flights?

Readers: Who has been to Cuba on one of the newly approved flights? If so, what is it like?

[I’d be more interested in going if the Central Planners in D.C. had decided to favor Boston, but apparently the Great Father in Washington thought that consumers should fly from other cities (see “Boston loses out on commercial flights to Havana”).]

Philip Greenspun’s Weblog

NVIDIA NVDA is a Strong Stock Getting Even Stronger

We believe that “Strong Stocks Get Stronger,” and NVIDIA (NVDA) is proving this concept true today.

What’s the lesson and where might this stock be heading now?

Let’s see:

We’re seeing the Weekly Chart above where price gently drifted higher from 2014 into 2015.

However, a strong bullish rally on high volume and high momentum developed at the end of 2015.

A natural pullback took price to the rising 50 week EMA in February ahead of an even strong rally that continues to this day.

2016 has been an abnormally strong year for shares of NVDA as buyers rushed to own a stock in a strong trend.

Momentum spiked to new highs and volume remained strong – all of which favored higher prices.

We’re seeing those prices develop now as a strong stock powers even higher, rushing toward $ 70.00.

Here’s the development of the strong uptrend through 2016:

When we’re looking to swing trade, we look for stocks in persistent uptrends, particularly those where we’re seeing strong volume and momentum.

If that’s the case, we then look to buy pullbacks (or retracements) to rising moving averages.

Check out our specific lessons and methods for our “Perfect Pullback Trading Strategy.”

Keep in mind that we DO NOT buy when price is overextended above the rising moving averages, as is the case now.

If you’re new to trading, focus your attention on stocks – and trends – like this.

Follow the trend; follow the money.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

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).


Afraid to Trade.com Blog

October Special! Classes with Corey on Promoting Your Trading Confidence with Confirmation (and Wyckoff)

I’m so excited to announce a series of three in-depth classes in October!

Roman Bogomazov – expert instructor of Richard Wyckoff’s methods at Golden Gate University – and I are teaming up to teach you how Richard Wyckoff’s methods integrate with today’s markets and how today’s indicators help you recognize trading opportunities from Wyckoff’s original methods.

Entitled “Wyckoff Plus! Promoting Your Trading Confidence with Confidence,” Roman and I will guide you through Wyckoff’s original methods, price projections, pattern recognition, supply/demand, and strategies.

I’ll be teaching you how to use today’s indicators in combination with Wyckoff’s original methods.

Drawing on his experience, Roman will describe the unfolding of Wyckoff Phases in trading ranges (both accumulation and distribution), including Wyckoff events and their characteristic price and volume signatures, as well as trading tactics geared to these predictable events.

Then Corey will demonstrate WHICH indicators are most appropriate for each Wyckoff Phase, and how best to use these indicators, both to confirm (or not!) our structural analysis and even to alert us to additional opportunities or possible dangers!

We’ll share case studies, discuss trades/experiences from our own accounts, and model the lessons for you in an easy-to-follow, accessible format.

Click on to read more information about our “October Special – Wyckoff Plus!” classes and to register.

This is an exciting opportunity to ground yourself in long-standing trading strategies as adapted to today’s markets and indicators in popular charting programs.

We’ll be teaching these three Thursdays in October beginning October 7th and we can’t wait to see you there live with us!

Corey


Afraid to Trade.com Blog

Another way to look at the scale of immigration to the U.S.

Most articles on immigration talk about the number of people arriving in the U.S. “Thousands Eager to Vote Won’t Become Citizens in Time” (nytimes) instead looks at the number who are becoming citizens:

In the last year almost 940,000 legal immigrants applied to become citizens, a 23 percent surge over the previous year.

If we want to see what kind of politician will be successful in the U.S. ten years from now should we look at what kinds of politicians are successful today in the countries from which immigrants are arriving? Or are there specific things that American politicians can promise immigrants in order to gain their votes?

Philip Greenspun’s Weblog

De Nada

The bears didn’t have a good day yesterday, with a larger than expected decline on the indices, and clear breaks at the RTH on SPX close back below the daily middle band, the 50 hour MA and the 5dma, and ES losing the key weekly pivot area at 2152.25 that I highlighted as a key […]
Slope of Hope

Don’t Trap Yourself into Trading Failure

Most traders fail at trading because they are unrealistic about the amount of time it will take to get good and the returns they will earn once they do. That creates a condition where the trader makes a series of mistakes that we cover in this video. We discuss how to avoid those mistakes and start your trading career with realistic expectations. Read more […]
SMB Capital – Trading Education

Bullish Set-Up for Oil

Oil climbed 7% from yesterday’s low to high in reaction to the OPEC cutback news. More importantly, perhaps, the overnight price action has been well-behaved, near the $ 47 area. This suggests that after Wednesday’s vertical upmove, oil is building a bull-flag digestion period prior to upside continuation towards a test of the Aug high at […]
Slope of Hope