Now We Can Use our New Emini Fibonacci Grid July 13

Retracement grids don’t help us when the market is breaking higher and NOT retracing!

However, today’s session may be the beginning of a short-term retracement in price and if so, these updated target levels are very important.

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.

As we saw the last couple of updates, we don’t use retracements when price is power-trending or short-squeezing higher.

We buy pullbacks on the way up and then await an eventual pullback (retracement).

With the negative divergences, odds do favor a swing down away from the 2,150 level.

What’s the initial target?  2,111.50 which is not only the prior pre-Brexit closing high but the 23.60% retracement.

Want these levels and additional analysis/strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

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Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

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).

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