23
Sep

Trading Through our Fibs Sept 23 Emini Grid Update

Sep 23, 2016: 1:55 PM CST

If you’re not using our Fibonacci Grids each morning, you’re missing out.

Be sure to bookmark our homepage and check back each morning for free updates to our grid and quick-planning for you day.

Today we’re seeing a fall down away from our 2,170 level toward the intraday pivot at 2,156 where a reversal is brewing.

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.

With the Fed NOT raising rates as expected, the market shot like a rocket straight up into our ‘Final Fib’ level.

From there, price traded around 2,169 and now broke lower, falling all the way to our 2,156 Fib Pivot.

We will focus our attention there for a possible end-of-day rally and plan for Monday.

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

22
Sep

Trading Intraday Trend Reversals Webinar TODAY!

Sep 22, 2016: 1:41 AM CST

I’m excited to present today’s featured educational webinar:

Trading Intraday Trend Reversals:  Specific Tips & Tactics for You” at 4:30 EST / 3:30 CST.

In just over an hour, we’ll cover how to recognize an Intraday Trend Reversal in stocks, ETFs, and especially index futures before other traders catch on – giving YOU the advantage in your trades.

We’ll talk indicators, moving averages, volume, momentum, internals and other factors you can use for clues.

Attendees of this event with learn:

  • Corey’s “Kick-Off” concept
  • Specific indicators you can use
  • Which moving average combinations to use for better accuracy
  • Specific trade set-ups that can get you on the right side of a rapid market movement

Don’t get caught on the wrong side of a trend day! I’ll gladly answer your trend questions live using multiple real-world examples.

Join us!  It’s free, there’s no sales – just actionable education you can start using now.

Thanks to Trader Kingdom and Ninja Trader for making this possible to the trading community!

Corey


Afraid to Trade.com Blog

20
Sep

SP500 SPX Scraping the Underside of the 50 Day EMA

Sep 20, 2016: 10:23 AM CST

We follow the market on an intraday basis but it’s helpful to pull the perspective up to the Daily Chart for clues.

Right now we’re seeing a clear higher timeframe range develop as the market “scrapes” the underside of a key EMA.

In simplest terms, sellers are stepping in at the underside of the 50 day EMA near 2,150.

Focus on this level as a key pivot – bullish for a breakout above, bearish beneath.

However, buyers are stepping in to support the market at the 2,120 price pivot.

Continue following along with our morning market updates of the intraday Fibonacci Levels within this context.

We’ll have the Fed Decision (hike?  not hike?) Wednesday and any surprise could be the catalyst to break us out of these focal points.

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

18
Sep

A Range at the Lows Emini Fibonacci Grid Update Sept 16

Sep 16, 2016: 10:42 AM CST

We’re seeing a range develop between our Fibonacci Levels at the recent lows.

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.

Be sure to reference the previous update for additional information for the larger Fibonacci Grid targets.

The 2,105/2,110 level is the 38.2% Fibonacci Retracement of the larger rally and so far, it’s holding as support.

A strong rally took us above the 2,139 pivot but price reversed between the 38.2% and 50% levels yesterday.

We were ready for a bearish swing “away from” the 2,139 level toward 2,128 and we’re back toward that pivot now.

Focus on – and trade – the departure away from 2,129 for the remainder of today’s session.

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

17
Sep

GDX Gold Miners Pulls Back to Critical Support Level Sept 16

Sep 16, 2016: 11:05 AM CST

Gold – and popular ETF GDX (Gold Miners) – pulled back to a key support level.

Let’s chart the retracement (is it a reversal?) and pinpoint the critical level that will give us a big clue now.

The chart above shows the Gold Miners (GDX) in an uptrend all throughout 2016 along with Gold, seen on the lower chart window.

Though price continued higher through 2016, volume slowed down in a divergence, especially on the August high.

Look closely that on the high – yellow highlight – daily volume was under 50 million shares per day (among the lowest levels in 2016).

We also saw a persistent negative divergence in momentum into the August high.

These factors – at a minimum – suggest a steeper pullback (which is what occurred) and perhaps a reversal.

We’re focusing carefully on the $ 25.50/$ 26.00 level (green highlight).

If this retracement is complete, this is a great spot to buy GDX or individual gold mining companies – or perhaps gold itself.

If this is a reversal, then we’ll see a breakdown under this area and a departure swing “down away from” the $ 25.00 level.

As a trader, your job isn’t to predict but trade – and we use key levels as decision points to assess supply/demand.

Right now, focus on the green level and be ready for either outcome.

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

15
Sep

Finally Seeing the Big Bullish Breakout for Apple AAPL

Sep 15, 2016: 10:31 AM CST

Apple (AAPL) showed impressive relative strength to the market this week and we’re seeing that bullish dominance continue with a breakout and birth of a new uptrend.

Here’s the Weekly Chart and the new bullish phase emerging for Apple (AAPL) shares:

For a bit of quick background, see my post “Apple Bucks the Bear Day” – which was our first major clue.

Correctly detected, we noted how strong shares were performing against a strong “second collapse” day.

We live by the statement “That which is Strong tends to get STRONGER.”

Strong stocks tend to see more bullish gains and Apple is a great recent example of that concept.

What now?

We’re seeing price break above a blue trendline into August and then retest this trendline into September.

This week we’re seeing a new swing high and thus the birth of a NEW Uptrend into late 2016.

Focus on the $ 110 level and as long as price continues to move “up away from” this pivot, we could see further action through the open air zone toward the $ 120 high and possibly (eventually) toward the $ 130 high.

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

14
Sep

Apple AAPL Bullishly Bucks the Bear Day Sept 13

Sep 13, 2016: 10:32 AM CST

In a surprising move, Apple (AAPL) shares defied the broader market collapse today with a big bullish surge.

On big sell-days like this, it’s helpful to find a strong stock bucking the trend.

Here’s Apple fighting the tide of selling of today’s bearish market:

Friday was a big down day and Monday was a big up day (bounce) just like the broader stock market.

Today is unique for Apple (AAPL) because the stock market is crashing back to the lows while Apple is surging back toward the highs.

This shows relative strength to the market in a big way and draws our attention to Apple shares.

We can see a short-term range between the $ 103 level and the $ 110 pivot.

Price burst straight up toward this target level this morning – and we’re seeing follow-through.

Apple (AAPL) would continue a bullish campaign with a breakout beyond the $ 110/$ 111 level.

Otherwise Apple shares don’t turn objectively bearish unless they’re beneath the $ 101.00 level.

Here’s a specific “Relative Strength” Chart of Apple to visualize its strength this morning:

Continue following this bearish-bucking stock for clues of additional strength relative to the market.

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

12
Sep

The Bounce after the Crash Fib Grid Planning Sept 12

Sep 12, 2016: 10:53 AM CST

After crashing Friday from a Bearish Rising Wedge, price is now logically bouncing up from a larger 38.2% Fibonacci Retracement.

Let’s pinpoint this retracement and draw a shorter-term bounce Fibonacci Grid for this week.

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’ve had a larger Fibonacci Grid that we couldn’t use until price actually retraced or broke out of the short-term trading range at the highs.

This breakout occurred Friday exactly as expected from a Bearish Rising Wedge Pattern (reference here).

The 38.2% @ES level occurred near 2,105 and that’s roughly where price closed Friday and spike-reversed today.

For now, focus on 2,135 as an initial upside target, and beyond that look to the smaller grid at 2,139.50, 2,148, and 2,156.50.

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

11
Sep

Our Absolutely Correct Call on the Bearish Rising Wedge and Breakdown

In the September 8th Idealized Trades Report, I detailed the likely bearish pathway ahead with a discussion on a “Bearish Rising Wedge” pattern, the trigger, the target, and how to trade it – all for our members.

I wanted to highlight the analysis and outcome both from a teaching moment (pattern and outcome) and to show a sample of what type of analysis and actionable trading strategies you get as an Afraid to Trade Member.

Here’s the @ES Intraday Planning Page from September 7th’s member report:

The main idea is that price was compressing into a Bearish Rising Wedge pattern on negative divergences.

I’ll let the analysis speak for itself – the trigger was the breakdown under 2,172 and the target was 2,145.

I also publicly called out this pattern in yesterday’s Fibonacci Grid update (which I post each morning for free).

After a day of stagnation after price triggered a breakdown short entry yesterday, we’re seeing the fulfillment of the pattern – a collapse lower toward the target – this morning.

In fact, here’s what happened next – right on schedule and in textbook fashion:

Note the collapse we forecast from the pattern and the successful objective completed – and exceeded!

This is the type of education, analysis, and next-day planning you get as a member.

In honor of this spot-on accurate call, I’m eager to offer a free two-week trial to you (link here) to see if the membership will be of benefit to you as a short-term trader.

We also include strong/weak stock scans each day and do sector analysis as we plan the next trading day and week ahead.

It’s helpful for swing traders getting a sense of the broader picture and of course day/short-term traders in index futures, leading stocks, or ETFs.

Come check us out!  Become a member today or take me up on the two-week full access member trial.

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

9
Sep

Elliott Wave Stock Signals – Shorting UFPI

Shorting UFPI



Universal Forest Products Inc. has had a hell of a run but is now stalling in a 4th wave correction. The test of the recent highs does not deter me, and I feel actually presents a nice shorting opportunity. Wave (4) is unfolding in a double combination correct with a target of $ 97, although I will probably get out closer to $ 100.  Here is the trade:

Buy UFPI Oct 21  110/95 put spread at $ 4.97

Please support the blog and like this post :-)

PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.


Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals

© Copyright 2010-2016 Investing Advisers. All rights reserved.