We’re collectively waking up to a dream where the Brexit happened but in the real world, it didn’t. It was just a dream.
Ok that’s not actually true but the violent down-move was countered the last three sessions with equally strong up-moves in price, erasing the down-action following the U.K. “Brexit” vote.
Despite that, as was the case last week, our Fibonacci levels held and helped guide us through the journey.
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.
I brought back the wider (larger) Fibonacci Grid to the members last night and here we are with the prior levels.
After falling toward the 1,985 “127.70″ Extension, price reversed powerfully higher through all lower levels.
We’re now playing with the 2,075 @ES pivot which has been a key price pivot level through most of June.
Note your updated (previous) levels and adjust your trade plans to the departure between these levels, starting today with 2,075.
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Corey Rosenbloom, CMT
Afraid to Trade.com
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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).
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