Midday Successful Emini Fibonacci Bounce Update
Here’s a quick mid-day update of the point-perfect Fibonacci Retracement Level reversal for the @ES today.
Note the 50% Retracement as today’s low and reversal point:
Using the swing high and low, the simple Fibonacci Grid above listed the 50% retracement at the 2,166/2,167 level.
At the moment, that’s precisely where we’re seeing the midday reversal.
Fibonacci Levels are important for intraday traders as they serve as target to play “toward” and reversal spots to play “away from.”
Nothing’s perfect, but these levels can be very helpful in guiding your trading decisions as short-term traders.
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Corey Rosenbloom, CMT
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We got to be very careful of the reversal if we wish to be successful; I don’t think we need to do anything crazy which is going to be enough to bring profits. I found it very easy going with broker like OctaFX, as they are world class with having steady spreads from 0.2 pips to high leverage up to 1.500 while there is also rebate scheme where we get 50% back on all trading orders, so all very useful and is a big reason why I am comfortable.