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Short-Term Fibonacci Planning Grid Working to Call Quick Reversals

You may be surprised at how well our short-term Fibonacci Planning Grid is working to call quick reversals.

 

By Corey Rosenbloom

What are these levels, which level was a reversal point today, and what range are we watching?

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Simply stated Friday reversed up off the 2,048 level (see Friday’s real-time update that called the low).

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We saw a strong rally up toward our 2,060 target and now with today’s gap – and volatility – we’re seeing price play into – and now away from – our 50% Fibonacci Level at 2,069.

For today, use 2,069 and 2,060 as your pivot playground.