Fibonacci Bounce Emini Update Aug 3

Aug 3, 2016: 11:00 AM CST

Yesterday’s sell-swing took us straight to our Fibonacci Retracement target ahead of a bounce up off this pivot.

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.

Price broke the support at 2,150 (short-term range) and plunged straight into our 2,145 Fibonacci Level.

After a little nip under this spot, buyers intervened and bounced the market up away from our support target.

Today gives us a bit more upside action and we’re focusing on 2,150 and 2,145 again as target/pivots.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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2 Comments

2 Responses to “Fibonacci Bounce Emini Update Aug 3”

  1. Fibonacci Retracement Target - TradingGods.net Says:

    […] By Corey Rosenbloom […]

  2. Shaun Says:

    Got to be seriously careful with these bounces, as it could be very dangerous with things, so that’s why we got to be very wise with everything. I always keep myself comfortable and relaxed with everything. It’s to do with OctaFX broker where they have outstanding conditions with tidy spreads, high leverage, bonuses and many facilities like those, it’s all what makes me trade with comfort and allows me to be successful as well, so brings a lot to the table.