Fibonacci Levels Sometimes Work Perfectly
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.
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Retirement Day Trader:
How to Sell Weekly Options for Steady Income
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.