The Not New Same Emini Fibonacci Levels in the Range Update July 28
With the Fed NOT raising rates as expected, price responded with little fanfare – or movement.
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.
Our Rectangle Trading Range continues to develop between the 2,170 and 2,155 @ES levels.
We can’t use ANY Fibonacci Retracement level until price actually… retraces.
Here’s the Zoomed-In perspective of the short-term range in the S&P 500:
We’re playing ping-pong within a compressing range between 2,160 and 2,175 in the S&P 500.
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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).
It’s interesting to see how things will go out, it was expected but now it’s unexpected where things will go next. We just need to make sure we keep everything straight forward, it’s ever easy with broker like OctaFX since they have superb facilities and features that include small spread from 0.1 pips for all major pairs while they also have rebate scheme which gives me 50% back on all trading orders, so that’s another reason why I am so comfortable.