Pitch Perfect Fibonacci Grid Strikes Again June 16
Fri, Jun 16, 12:21 PM ET, by Corey Rosenbloom
If you’re new to our style of simple intraday trade-level planning, use today as a reference for how we do it.
Also note yesterday’s “Our Fibonacci Grid is Working Perfectly” post for the set-up for today’s activity.
Here’s your short-term Emini Fibonacci Retracement Grid and Target Levels:
First, review our introductory reference post “How to Use our Intraday Fibonacci Grid for the Emini.”
We use them as targets to play “toward” and as possible reversal points “away from” intraday.
The market – with few exceptions – has traded within our grid recently, giving us an edge over traders not using it.
Yesterday saw a V-Spike reversal up away from our 61.8% Level toward our 23.6% Level.
Today’s session revealed a collapse “down away from” 2,433 toward our 50% Fibonacci pivot at 2,422.
The grid won’t work forever; price will break out of it. Exploit it as much as possible while it’s working for you.
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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