Price reached our projected HOD target (2113.25) outlined in prior Daily Trade Strategy 04.23.15. Here is excerpt: “Today is Cycle Day 1 (CD1)…Possible High = 2113.25 based upon average penetration of CD3 high.”
Today is Cycle Day 2 (CD2)…Having reached projected target, expectation for today’s session is some back n fill price action to absorb recent gains, with an upward trade bias.
Odds of Rally > 10 = 83%; Odds of Rally > 20 = 45%; Average Range on CD2 = 14.50; Max Average Range = 22.50; Possible High = 2122.50 based upon converting CD1 high; Possible Low = 2100 based upon average range on CD2.
***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: IF PH (2114.50) clears and converts, THEN there is a 60% chance of extending to 2117.00 – 2120.25 STATX Zone. Above this zone measures 2122.50, then 2126.75 TargetMaster Range Breakout Level.
Scenario 2: Having satisfied initial range projection in prior session, some back n fill price action is expected…Pullback levels to be mindful of for renewed buy response are: 2103.50 Central Pivot, then 2098.50 – 2096.50 3D CPZ. Violation of these levels targets deeper pullback targeting 2092 then 2090 – 2086.75 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!
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO. – Bruce Lee