August, Die She Must

The autumn winds blow chilly and cold. September, I remember……. A love once new has now grown old. At this point, I think if North Korea announced an imminent attack, the market wouldn’t even bother going down temporarily. It would simply commence its post-missile buying, since, after two times now, it probably wouldn’t want to […]
Slope of Hope

The Dollar Drop and the Gold Surge August 28

We don’t fight or fade trends in motion, and the big gap-and-trend action in both the US Dollar Index and Gold remind us why we hold this core trading strategy.

Let’s take a look at the “gap-and-trend” action:

The key resistance level – and target – for Gold was $ 1,300 and buyers shattered this level today, triggering a breakout event.

Similarly, the downside target for the Dollar was $ 92.50… and sellers shattered support.

Continue following these actions and these key price levels:

$ 1,300 for Gold and $ 92.50 for the Dollar.

Frame your new trades in terms of the DEPARTURE from these key price levels.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day.

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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).”


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The Exciting and Expected Emini Bounce August 22

Traps on both sides of the market?  Another surge off support!  Sounds like a typical week.

Here’s today’s @ES Fibonacci Grid in play:

Emini @ES Intraday Trend Reversal

Our analysis (that I’ve correctly been highlighting to members) had us focusing on 2,420 as a critical support/bounce price pivot level and today we’re seeing the outcome of that critical “last support” pivot.

This morning gave us a gap-up away from the 2,420 low as price traveled not just to our first target (the 2,439 level) but the middle target here at 2,448.

With the bounce underway and the target achieved, use 2,450 as your new bull/bear pivot within our larger Fibonacci Retracement Grid.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day.

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).”


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Our August 15 Bouncing Emini Fibonacci Grid Update

With volatility back in the market (for now), let’s update our Fibonacci Grid for the @ES because – believe it or not – it’s STILL working very well for short-term traders.

Here’s today’s @ES Fibonacci Grid in play:

Emini @ES Intraday Trend Reversal

Monday gave us our strong, expected rally up away from the 2,440 critical pivot (that I’ve correctly been highlighting to members) and we now see price gapping up – and falling this morning – at our 2,470 Fibonacci Target.

In simplest terms for a quick update, our pivot points to watch today include (today’s gap-up high) at 2,469 and the 2,458 Fibonacci Levels.

A breakout above 2,470 suggests we’ll retest the high while a break under 2,458 means we’ll play lower toward 2,445 again.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day.

 

 

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