Range Continues for Emini Fibonacci Intraday Update Aug 22

Aug 22, 2016: 10:59 AM CST

One day we’ll get a breakout from this repeating range in the S&P 500 – and that day may be today – but so far it clearly isn’t the case.

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.

In the membership we’ve been highlighting the “Repeat Range” pattern (not seen in the chart above).

The main idea is that the July low-volatility intraday range environment is repeating now into August.

We had 2,185 and 2,175 as easy-to-remember range reference levels and so far they’re working well.

For the rest of today, use 2,175 and 2,185 as your bull/bear pivot level for trade planning.

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).

1 Comment

One Response to “Range Continues for Emini Fibonacci Intraday Update Aug 22”

  1. Sabbir Says:

    We got to be very careful with these levels because they make obvious difference and if we wish to be successful then we got to keep our self into right frame as far profit making goes. I always keep everything straight forward with support of OctaFX broker using their superb conditions and facilities especially my favorite their rebate scheme that gives 50% back on all trading orders which include the losing trades too, so all very handy to have for anyone.