Hey Our Emini Fibonacci Levels are Working August 11

Aug 11, 2016: 12:33 PM CST

If you followed our update from yesterday, you had a perfect plan for profit on the intraday @ES frame.

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.

As expected, once price broke down under the 2,174 level, it set in motion what I called “a collision course” toward the 2,168 level which is the 38.2% Fibonacci Retracement.

The downside action was tradable AND the upside reversal from this level was also tradable into yesterday’s close.

We now see a bullish gap-up and short-squeeze through the Open Air (also discussed in last night’s report to members) back to our prior high.

We’ll use the 2,183 level as our focal point (pivot) for the remainder of today’s trading day.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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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).

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