Emini Pullback Planning Fibonacci Grid August 10
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
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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).