Pullback or Another Head Fake Emini Planning Grid July 15

Jul 15, 2016: 12:50 PM CST

“Fool me once, shame on you. Fool me twice, shame on me.”

That’s exactly how it feels right now with this “Ok I’m pulling back now… just kidding!” market.

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.

The bulls have been tricking us with repeated aggressive overnight buying.

We still can’t use downside (lower) Fibonacci Retracement Grid levels WITHOUT an actual retracement.

Price may have “double-topped” (short-term) with more divergences into 2,164.

In the event price DOES actually pull back from the current 2,160 pivot, look for a move back to the opening gap and eventually down toward 2,120.

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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).

7 Comments

7 Responses to “Pullback or Another Head Fake Emini Planning Grid July 15”

  1. New Short Term Emini Fibonacci Retracement Grid July 18 | Afraid to Trade.com Blog Says:

    […] still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual […]

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    […] still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger […]

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  4. The Raging Bull Continues Emini Grid Update July 22 | Afraid to Trade.com Blog Says:

    […] still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger […]

  5. Same Pullback Same Emini Fibonacci Grid Plan July 25 | Afraid to Trade.com Blog Says:

    […] still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger […]

  6. Zebran Says:

    We got to be very careful of these pull back and stuff like that or else it could create unnecessary struggle and difficulty. I always feel okay with trading in these situations because there is plenty to gain, but still need to be careful. I go with OctaFX broker where I get great support, it’s all thanks to their mighty rebate scheme, it’s amazing with helping me earn 15 dollars profits per lot size trade which is even with the losing trades too, so that’s why it is so good!

  7. Michael Coel Says:

    Honestly, so very well said mate, I believe we need to be clever with these things or else it could take us into really bad zone, I am always careful with how I go about everything, it helps quite a lot with broker like TradeWiseFX since they too have daily market news and analysis updates, it’s so nice to trade with that. http://www.tradewisefx.com/