Range Range Range Emini Market Update August 1
Price was on a volatile arc this morning that keep us within the lengthy trading range.
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 still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.
As I wrote each day last week, price remains within a wider trading range between the @ES levels of 2,170 and 2,155.
We updated our Fibonacci Levels this morning as well, pulling the grid a little tighter from the earlier swing low.
If history repeats, the next swing will be lower; if instead we see a bullish breakout, play into the short-squeeze.
Either way, use 2,170 as your pivot point and play the departure from this key trading level.
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.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
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).