Our most optimistic upper price targets for yesterday’s session (2042.25) were easily surpassed with late day short covering acceleration rally which hit deep extreme STATX Level 2058.25 …Actual HOD 2059.25. Today’s extension targets 2067 – 69 zone.
Today is Cycle Day 3 (CD3) All cycle targets have been achieved and exceeded with strong price momentum following ECB’s decision on QE for the Euro-Zone.
Average Range on CD3 = 17.75; Max Average Range = 21.50; Possible High = 2069.75 based upon average penetration of CD2 high; Possible low = 2008 based upon average violation of CD2 low.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Scenario 1: Price remain firm in overnight trade holding above initial support zone between 2048 – 2051…IF price can maintain a bid above this zone and clear and convert PDH (2059.25), THEN there is a 60% chance of price extending to STATX Zone between 2064.50 – 2069.75. TargetMaster Range Breakout Level measures 2080.75.
Scenario 2: Price is currently trading near PDH (2059.25) in early-morning trade…IF price fails to clear and convert this level during the Pit Session, THEN there is a 40% chance of price pulling back to test key lower Central Pivot (2045.00). Below this level targets 2040 – 2038 zone down to 2032.25 TargetMaster Range Breakdown Level.
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!
I am ready to trade. My patterns are verified. My homework is complete. My mind is clear. I have rehearsed everything. I am prepared strategically, emotionally, and financially each and every day.