A New Bounce off our Emini Fed Day Fibonacci Grid June 14
Wed, Jun 14, 12:51 PM ET, by Corey Rosenbloom
We use our Fibonacci Grid as target levels to play “toward” and reversal points to play “away from.”
That’s true in today’s morning activity, as you’ll see below.
Here’s your short-term Emini Fibonacci Retracement Grid and Target Levels:
We had a full pullback to our 61.8% short-term Fibonacci Level at 2,417 and buyers stepped in aggressively.
From there, price closed Monday’s session at our 38.2% retracement into 2,427.
Here’s a key quote from yesterday’s planning:
Today’s bullish gap-up set the stage for another swing back toward the highs (through our “Open Air” bullish zone) as discussed for members last night.
That’s exactly what happened with this morning’s gap and price retraced straight to our 2,433 target.
We’re seeing a rally at the moment but keep in mind today is a FED DAY so monitor price action closely.
If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!
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).”
SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Retracement" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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