Emini Still Trades and Bounces within our Grid Sept 6
Our breakout beyond 2,470 was short-lived last week. Now, we’re back within our grid.
Let’s chart today’s @ES Fibonacci Grid in play:
After the Labor Day holiday, shares plunged back toward our 2,448 Fibonacci Pivot and reversed powerfully up away from this level, closing back at the 2,458 Fibonacci Target.
At the moment, we’re back within the 2,458 and 2,470 price pivots as price rests between them.
There’s no special analysis or plan here – continue to trade the movement between these levels until we get above 2,480 (target 2,500) or beneath 2,420.
Until then, we’ll continue loving this range because it’s effective for our short-term trades.
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Corey Rosenbloom, CMT
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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).”