Range Continues for Emini Fibonacci Intraday Update Aug 22
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
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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