Fed Day Emini Fibonacci Pullback Grid July 27

Jul 27, 2016: 10:59 AM CST

The Fed won’t raise rates later today at their meeting, and the market could rally as a result.

We’ll be watching also for a pullback/retracement in the event the market doesn’t like the outcome or guidance.

If so, we’ll use our grid below to plan the rest of the session and the remainder of the week.

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.

The Fed Day Announcement will trump all other activity but in the meantime, use the trendline and grid above.

We’re playing ping-pong within a compressing range between 2,160 and 2,170 in the @ES.

A breakout opens a short-squeeze play higher while a breakdown targets 2,145 (a Fibonacci target).

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Corey Rosenbloom, CMT

Afraid to Trade.com

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4 Comments

4 Responses to “Fed Day Emini Fibonacci Pullback Grid July 27”

  1. Market Could Rally if Fed Does Not Raise Rates - TradingGods.net Says:

    […] By Corey Rosenbloom […]

  2. The Fed Does Nothing but Keep the Current Range Going | Afraid to Trade.com Blog Says:

    […] I highlighted in this morning’s update post, we have a bigger picture Rectangle Range […]

  3. Fed Keeps Current Range Going - TradingGods.net Says:

    […] I highlighted in this morning’s update post, we have a bigger picture Rectangle Range […]

  4. Robert Says:

    Things are going to be all so much interesting to see here, I mean whether we will see this going to continue or not, it’s vital to make sure we work with proper plan and wise approach, it’s exactly why I keep things simple and straight forward. It helps a lot with OctaFX broker given their conditions are top notch with lowest spread possible starting from 0.1 pips to high leverage up to 1.500 plus there is also huge cash back getting up to 50%.