New Emini Fibonacci Levels on the August 17 Pullback
Wait – you mean the market actually can go down? I didn’t think that was possible.
Sarcasm aside, let’s update our very short-term Fibonacci Retracement Levels for the current @ES.
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 were watching the 2,173 level as a short-term downside target (achieved) which failed as support today.
Price then fell as planned toward the 50% level or the 2,167.50 pivot which was the prior low from August 10.
We’ll focus our attention on the 2,167.50 @ES pivot for the remainder of today’s session, noting the updated grid.
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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).
I love trading via Fibonacci levels, but here we are required to do a lot of practice, it’s not possible to be successful without learning it out previously, it’s ever easier for me with help of broker like OctaFX, as they are just too good with helping me out with having options like swap free account and more, so all this helps a lot with been able to use any strategy easily and that’s what increases my chances as far trading is concern.