The Exciting and Expected Emini Bounce August 22

Aug 22, 2017: 10:55 AM CST

Traps on both sides of the market?  Another surge off support!  Sounds like a typical week.

Here’s today’s @ES Fibonacci Grid in play:

Emini @ES Intraday Trend Reversal

Our analysis (that I’ve correctly been highlighting to members) had us focusing on 2,420 as a critical support/bounce price pivot level and today we’re seeing the outcome of that critical “last support” pivot.

This morning gave us a gap-up away from the 2,420 low as price traveled not just to our first target (the 2,439 level) but the middle target here at 2,448.

With the bounce underway and the target achieved, use 2,450 as your new bull/bear pivot within our larger Fibonacci Retracement Grid.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day.

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Corey Rosenbloom, CMT

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