Emini Pullback Planning Fibonacci Grid August 10

Aug 10, 2016: 1:14 PM CST

Here’s our update for today!

Price pulled back and broke under our upper Fibonacci Level and now has a collision course for a lower price.

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 still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

With the two intraday Bull Trap reversals, our Fibonacci Grid updated to the 2,174 level.

That was the two prior intraday reversal lows but buyers lost the battle today.

Price broke under the 2,174 pivot and likely trades now down toward 2,168 and possibly lower than that.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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