This is now the third major intraday bullish retracement and surge up away from the 2,040 @ES Level in May.
Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:
As I mentioned yesterday, we changed our Fibonacci Retracement Grid to an upward retracement structure.
We’re seeing a strong bullish reversal up away from 2,040 (like May 6th) toward both the 2,049 and now the 2,060 upside Fibonacci Targets.
We discussed this likely outcome for members in last night’s planning – it’s great when price does what it should!
Note the rally up toward our 2,060 target – a breakout here opens another path toward 2,070 while a successful “test and reverse” makes us cautious between 2,049 and 2,060.
For more daily updates from Corey, visit his blog at Afraid to Trade.com.