Logical Retracement

With negative divergences into a resistance target, we’re seeing a logical retracement down in the @ES today.

By Corey Rosenbloom

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.

While I may update this grid to be more specific, we have a NEW @ES short-term Fibonacci Level Grid.

We’re focusing on the 2,080 level which was today’s gap-down point.

As long as price is beneath this level we’ll target the lower support level (38.2%) at 2,061.

Depending on what happens at 2,061, we’ll plan and update accordingly.

Each Fibonacci Level is both a target to play toward (intraday) or a possible reversal point to play.