July 5 Expected Emini Retracement Fibonacci Grid

Jul 5, 2016: 10:58 AM CST

With negative divergences into a resistance target, we’re seeing a logical retracement down in the @ES today.

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.

While I may update this grid to be more specific, we have a NEW @ES short-term Fibonacci Level Grid.

We’re focusing on the 2,080 level which was today’s gap-down point.

As long as price is beneath this level we’ll target the lower support level (38.2%) at 2,061.

Depending on what happens at 2,061, we’ll plan and update accordingly.

Each Fibonacci Level is both a target to play toward (intraday) or a possible reversal point to play.

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

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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).

3 Comments

3 Responses to “July 5 Expected Emini Retracement Fibonacci Grid”

  1. Retracing Market Update July 5 and Big Stock Scan | Afraid to Trade.com Blog Says:

    […] We have new @ES Fibonacci Grid levels for short-term or intraday traders as seen in this morning’s post. […]

  2. Logical Retracement - TradingGods.net Says:

    […] By Corey Rosenbloom […]

  3. Haider Says:

    These type of movements are very much expected, but it’s very crucial for us to time our trade correctly to gain maximum since that’s only way we will be able to gain something worthy. I go with OctaFX broker where I get that extra comfort and that’s through their small spread from 0.1 pips to high leverage up to 1.500 plus there is also smooth trading platform in cTrader, it’s all picture perfect and helps me a lot to work well.