Now We Can Use our New Emini Fibonacci Grid July 13

Jul 13, 2016: 1:12 PM CST

Retracement grids don’t help us when the market is breaking higher and NOT retracing!

However, today’s session may be the beginning of a short-term retracement in price and if so, these updated target levels are very important.

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.

As we saw the last couple of updates, we don’t use retracements when price is power-trending or short-squeezing higher.

We buy pullbacks on the way up and then await an eventual pullback (retracement).

With the negative divergences, odds do favor a swing down away from the 2,150 level.

What’s the initial target?  2,111.50 which is not only the prior pre-Brexit closing high but the 23.60% retracement.

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

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

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Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

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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