Bouncing Market Emini Fibonacci Grid Update August 25
After harshly joking about it Tuesday, we actually did get our expected pullback to a key target in the market.
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.
In the membership we’ve been highlighting the “Repeat Range” pattern.
The main idea is that the July low-volatility intraday range environment is repeating through August.
As I wrote Tuesday:
We’re seeing 2,190 @ES as the upper “all-time high” pivot – a possible double top.
That’s exactly what we got as price plunged quickly toward the 2,180 pivot and then all the way to the 50% Level and triple pivot low above 2,167.
As I wrote was the likely play in the membership last night, we indeed are seeing a strong bounce up from this level.
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Corey Rosenbloom, CMT
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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).
One got to ensure that he follows these key levels very careful since it can lead to serious rewards, but getting it wrong can cause huge headaches, so we got to be very wise with dealing here. I always follow this blog to get proper ideas on where to trade and it’s working nicely, I also get push through OctaFX broker using their epic set of conditions that include having lowest possible spread from 0.1 pips to high leverage to 1.500 plus very smooth trading platform, it’s all picture perfect.