The Bounce after the Crash Fib Grid Planning Sept 12

Sep 12, 2016: 10:53 AM CST

After crashing Friday from a Bearish Rising Wedge, price is now logically bouncing up from a larger 38.2% Fibonacci Retracement.

Let’s pinpoint this retracement and draw a shorter-term bounce Fibonacci Grid for this week.

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’ve had a larger Fibonacci Grid that we couldn’t use until price actually retraced or broke out of the short-term trading range at the highs.

This breakout occurred Friday exactly as expected from a Bearish Rising Wedge Pattern (reference here).

The 38.2% @ES level occurred near 2,105 and that’s roughly where price closed Friday and spike-reversed today.

For now, focus on 2,135 as an initial upside target, and beyond that look to the smaller grid at 2,139.50, 2,148, and 2,156.50.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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8 Comments

8 Responses to “The Bounce after the Crash Fib Grid Planning Sept 12”

  1. The Crash after the Bounce Emini Fib Grid Sept 13 | Afraid to Trade.com Blog Says:

    […] sure to reference yesterday’s morning update for additional information for the larger Fibonacci Grid […]

  2. Bouncing UP into our Emini Fib Grid Sept 14 | Afraid to Trade.com Blog Says:

    […] sure to reference the previous update for additional information for the larger Fibonacci Grid […]

  3. Volatility Is Back! - TradingGods.net Says:

    […] sure to reference the previous update for additional information for the larger Fibonacci Grid […]

  4. Breaking Through our Emini Fibonacci Levels Sept 15 | Afraid to Trade.com Blog Says:

    […] sure to reference the previous update for additional information for the larger Fibonacci Grid […]

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    […] sure to reference the previous update for additional information for the larger Fibonacci Grid […]

  6. Updating our Famous Fibonacci Emini Grid Sept 19 | Afraid to Trade.com Blog Says:

    […] sure to reference the previous update for additional information for the larger Fibonacci Grid […]

  7. Henry Says:

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