Bullish 3-Day Cycle momentum continues unchallenged by “da bears” as price has reached STATX target zone outlined in prior Daily Trade Strategy 05.18.15 Here is excerpt of Scenario 1: “IF price clears and converts PH (2122.75), THEN upside expansion targets 2124.50, 2128.25, followed by 2130.75 – 2134.00 STATX Zone.”
Today begins a new 3-Day Cycle…Odds of Decline > 10 = 71%; Odds of Decline > 20 = 41%; Average Range = 18.75; Max Average Range = 22.00; Average Decline = 21.00; Possible HOD = 2134.75 based upon average penetration; Possible LOD = 2113.00 based upon average decline.
***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: Price has exceeded PH (2128.75) and has reached target zone (2130.75 – 2132.75). IF price can stay above prior high, THEN bulls remain in control with penetration target 2134.75, then 2140.00 TargetMaster Range Breakout Level.
Scenario 2: Violation of PH (2128.75) opens door for deeper pullback into prior days range. Lower levels to be mindful of for support are: 2124.50 – 2122.50 – 2120.50 Central Pivot Zone. Below this zone targets 2116.75 – 2114.50 3D CPZ with average cycle target 2113.
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