We continue to frame each day’s trading day in terms of our ongoing intraday Fibonacci Grid.
We do this because it’s simple and it’s effective.
Here’s today’s updated Emini (@ES) trading levels for your trades:
After price gapped down int our 2,323 Fibonacci Level (the “Final Fib”), buyers stepped in aggressively.
Not only has price traded “up away from” this level “toward” the next two levels (2,338 and 2,352) but we’re also at the upper bound of our Fibonacci Grid, just shy of the 2,370 target today.
Simply stated, keep using these levels as intraday decision support and note the green/red price pathways on breakouts.
If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Follow Corey on Twitter: http://twitter.com/afraidtotrade