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.

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

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to

Follow Corey on Twitter:

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).


2 Responses to “Fibonacci Bounce Emini Update Aug 3”

  1. Fibonacci Retracement Target - 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.