Pullback and Updated Emini Fibonacci Grid Dec 12

Dec 12, 2016: 11:48 AM CST

In the event price doesn’t extend another six days higher – or infinitely higher – we’ll see another reasonable retracement develop.

Let’s update our Fibonacci Grid to plan for this possible pullback should it actually occur.

Here’s today’s updated Emini (@ES) trading levels for your trades:

The way traditional Fibonacci Grids work is that we draw a Fibonacci Retracement Grid from a swing low to a swing high to determine the main “Fib” retracement levels.

The problem in real time is that you don’t quite know when price will reverse (short-term) and pull back from a high as opposed to making new highs consistently as has been the case in December.

With that in mind, IF we’re seeing a short-term pullback down from the 2,250 level, THEN our “first Fib” target becomes the 2,220 level.

If not, then keep trading long/bullishly into a short-squeezed breakout market and wait to update your Fib Grid.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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1 Comment

One Response to “Pullback and Updated Emini Fibonacci Grid Dec 12”

  1. Ashgar Says:

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