Expanded Emini Fibonacci Grid after Crash June 27

Jun 27, 2016: 10:08 AM CST

The Brexit Fall-out continues in equity markets including our own S&P 500.

Let’s expand our Fibonacci Grid to account for this collapse and highlight two lesser-known target areas.

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’re using the same low-to-high grid but expanding the chart to highlight the 127.70 and 161.8% Extensions.

When price gapped down under the 100% level (the May 19th swing low at 2,013), we went to our next extension target at the current 1,985 pivot.

Let’s use this level as today’s reference point, target, pivot, or bounce-line.

A bounce here opens a short-term bullish path while another break under 1,985 opens a path eventually toward 1,950.

Want these levels and additional analysis/strategy planning in advance each evening?

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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).

1 Comment

One Response to “Expanded Emini Fibonacci Grid after Crash June 27”

  1. Kinley Says:

    It can be good time to trade, but again we got to be very careful with how we work out, so that’s why we need to be careful and make sure we do everything easy. I trade with OctaFX broker where I get great help through the low spread from 0.2 pips to high leverage up to 1.500 while there is also incredibly smooth trading platform in cTrader, it’s excellent and really helps with trading due to no issues over slippage or re quote.