Latest Cycle Targets had been fulfilled early (2107) following FED Announcement last week. Failure to expand further setup yesterday’s sell-down following attempts to auction higher were thwarted by sellers at 2101 handle. We had projected the possible session low to be 2082.50…actual LOD 2083. DTS 03.24.15 In overnight trade price is currently holding at the 2082.75 level, so it will be important for bulls to respond or further price weakness may continue.
Today begins New 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 = 2113.00; Possible Low = 2072.25
***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 projected range target of 2082.50 on CD3..It’ll be critical for PDL (2083.00) to hold any test during Pit Session. IF this occurs, THEN there is a 50% chance of bounce targeting 2089.75 – 2092.00, followed by 2093.75 – 2094.75 3D CPZ.
Scenario 2: Further probe for secure low is more likely today since price closed on lows of prior session and today is CD1, which is normally a weak session. IF price violates and converts PDL (2083.00), THEN odds (73%) favor further downside initially targeting 2079.50, followed by 2075.50 – 2072.25. TargetMaster Range Breakdown Level 2065.50.
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