Range Range Range Emini Market Update August 1

Aug 1, 2016: 11:13 AM CST

Price was on a volatile arc this morning that keep us within the lengthy trading range.

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.

We still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

As I wrote each day last week, price remains within a wider trading range between the @ES levels of 2,170 and 2,155.

We updated our Fibonacci Levels this morning as well, pulling the grid a little tighter from the earlier swing low.

If history repeats, the next swing will be lower; if instead we see a bullish breakout, play into the short-squeeze.

Either way, use 2,170 as your pivot point and play the departure from this key trading level.

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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).

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