Markets took a time-out to honor this Great Country’s past Presidents. Today we refocus our attention to the business of trading. Quiet holiday trade session starts us off we we ended Friday’s session. Bullish mode within a whisker of challenging the highs near 1850.
Today marks Cycle Day 3 which has already achieved positive Cycle targets. If the bulls continue their torrid buying, penetration and conversion of 1840.25 high increases probabilities of an accelerated move to 1846 – 50 zone. Failure to convert recent high, calls for pullback to retest 1830 32 zone..Any deeper pullback below this zone targets the 3D CPZ between 1826 – 29 zone. Current momentum suggests higher likelihood of 1850’s being within reach, but as we know markets can reverse at anytime, so we remain disciplined with our trading.
“Anything Can Happen..We Trade the Probabilities”
I am at peace with uncertainty. I know there is no such thing as a sure thing. I have no particular need to be right. I understand that being perfect has no place in trading. I am flexible. I am willing to change my mind. I am alert to scenario changes. I accept the information that tells me I am on the right track or on the wrong track.