Monday’s Trade Session achieved our projected HOD target of 2073 (actual high 2074) laid out in yesterday’s DTS Report 03.16.15 Scenario 1:“IF Price can maintain bid above the PDL (2032.50), THEN odds (54%) favor of making a high up to 2161.75. Above this level is range expansion targeting 2069.00, then 2073.00.”
In overnight trade price in currently trading near 2059.50 Central Pivot, approximately 12 handles lower than prior high 2074. Some back n fill should be anticipated to absorb recent gains. FOMC Meeting begins today with announcement and forecast to be announced Wednesday.
Today is Cycle Day 1 (CD1); Odds of Decline > 10 = 71%; Odds of Decline > 20 = 41%; Average Range = 18.75; Max Average Range = 22.00; Possible High = 2088.25; Possible Low = 2049.25.
***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: Having reached expanded cycle targets and HOD projection 2073, some back n fill price action should be anticipated. As long as price finds responsive buyers at or above the Central Pivot Zone (2059.50 – 2063.25), price has potential to retest PDH (2074). IF this level is cleared and converted, THEN further upside targets 2078 – 2082.25 STATX Zone. Range Target measures 2088.25.
Scenario 2: Failure to convert PDH (2074) or violation of CPZ (2059.50 – 2063.25) keeps price contained within prior days range, within a wide parameter of possible support levels for buy response. Levels to be mindful of on pullbacks are 2063.50, 2059.50, 205.75…Below is Three-Day Central Pivot Zone 2053.25 – 2049.25 for Key Support. Range Breakdown Level is 2044.75.
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!
Good Trading…David
Habitude Twelve
I am disciplined. I behave in a way to reach my goals. I do what I intend to do. I have the intent to win through right actions. I will be patient for patterns to emerge and mature. I am decisive. I decide easily and act promptly. I act in the right way and right on time. When there is nothing to be done, I will wait.