Might This Be the Actual Pullback Emini Fibonacci Grid July 21

Jul 21, 2016: 12:56 PM CST

Is this our first actual pullback since the early July breakout?!

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.

Multiple negative divergences in an extended bull-swing rally have set the stage for a deeper pullback.

Is this it?

Let’s not get ahead of ourselves as short-term traders.

Right now, we’re focusing on the play “down away from” the new high at the 2,170 @ES level.

The 23.6% first Fibonacci Retracement Level as drawn is 2,149.  We may be on a journey there now.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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2 Responses to “Might This Be the Actual Pullback Emini Fibonacci Grid July 21”

  1. Retracing Market Update and Stock Scan July 21 | Afraid to Trade.com Blog Says:

    […] A lengthy rally with negative divergences set the stage for today’s pullback away from the 2,175 level. […]

  2. Woakes Says:

    It indeed looks like that, but we need to be very careful with everything and that’s I trade mostly when I am comfortable with situation instead of been greedy, it helps a lot when having broker like OctaFX since they are all very special having excellent conditions like lowest possible spread from 0.1 pips to high leverage up to 1.500 plus much more, it’s all what helps me perform better and allows me to succeed in any situation that one gets in.