Hey The Emini Fibonacci Grid Worked Update August 2

Aug 2, 2016: 10:29 AM CST

While price expanded the lengthy trading range, we saw this morning’s price action pull back to our known Fibonacci Target.

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.

While the 2,170 @ES level is resistance, price has been playing “ping-pong” between it and 2,150.

Today finally gave us a deeper retracement to our 23.6% Fibonacci Level at 2,145.

Not only did price collapse straight toward this level, but as of right now we’re seeing at least a small bounce “up away from” this Fibonacci Pivot.

That’s precisely how we use these Fibonacci Levels – they’re targets and possible short-term reversal spots.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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1 Comment

One Response to “Hey The Emini Fibonacci Grid Worked Update August 2”

  1. Kapil Says:

    It looks great time for make an entry, but we just need to be very careful with how we work out with things. I trade with OctaFX broker where I get a lot of benefits which is especially with their swap free account option, it’s super nice and something that definitely helps up with performance and allows me to be successful, so that’s why I am able to work really nicely and helps me up with performance big time without much trouble.