Cycle Day 2 (CD2) unfolded as expected, ranging between anticipated cycle support (2090.00) and Three-Day Pivot (2107.00). Current swing is in the downward direction and as such selling bounces is the current strategy until key decision levels, 2104, 2108, 2112 are cleared and converted.
Today is Cycle Day 3 (CD3)…Price has reached cycle target (2112.00), but has retreated back lower to Cycle Day 1 Low (2088 – 2090) zone. Price will need to hold above this zone for bullish case, otherwise deeper down correction may unfold.
Odds of 3D Rally > 10 = 82%; Odds of 3D Rally > 20 = 54%; Average Range = 17.75; Max Average Range = 21.50; Possible High = 2108.75 based upon average range on CD3; Possible Low = 2078.50 based upon average violation of CD2 Low on CD3.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: June (M) Contract
Scenario 1: Price will need to hold above 2090.25 for bullish case…IF this occurs, THEN there is 55% chance of reaching 2100.25 Central Pivot. Strength above this level targets 2104.00, then 2108.75 projected range target.
Scenario 2: Violation and conversion of 2090 – 2088 “key support” zone opens door for deeper downside…Lower levels to be mindful of are 2085, 2082.50 TargetMaster Range Breakdown Level, followed by violation targets between 2080.00 – 2078.50.
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee