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:

E-mini S&P 500 30 Minute Chart

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.

For more daily updates from Corey, visit his blog at Afraid to Trade.com.