Our August 15 Bouncing Emini Fibonacci Grid Update
Tue, Aug 15, 10:11 AM ET, by Corey Rosenbloom
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:
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.
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Corey Rosenbloom, CMT
Afraid to Trade.com
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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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