ES emini short entry at Fibonacci 50% retracement level

4 Feb 2020

Potential short entry as the ES retraces to the 50% line on a 12 hour (720 minute) Fibonacci range. If it breaks through the 50% line there is a decent probability of a second short entry at the 61.8% retracement (a 'dirty short'). The ES has been in this cyclical range now for a week and the 50% to 61.8% retracement range has already provided resistance twice in the past week.