Small Pullback from the Highs Emini Fibonacci Grid Aug 16

Aug 16, 2016: 10:41 AM CST

Pullback?  Updated levels?  Uptrend continuing?  Let’s take a look at our morning update.

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.

As price stair-steps higher, we have to keep expanding our short-term Fibonacci Retracement Grid.

The new levels – based on yesterday’s high into 2,191 – include the 2,179 level on which we’re focusing now.

Price currently trades exactly at this level and we’ll use it as today’s pivot.

A bounce targets the high while a breakdown targets initially 2,177 then 2,172.

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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).

1 Comment

One Response to “Small Pullback from the Highs Emini Fibonacci Grid Aug 16”

  1. Ritu Says:

    I believe these pull back is often great chance to get into things, but we need to make sure we ride up with the right trend, as that’s the best way we will be able to achieve profits and success, I am able to find it all easy because of broker like OctaFX which is all too special having favorable conditions with stuff like tidy spreads starting from 0.1 pips while they also have swap free account and many such features, so all brilliant.