Price swung briskly in prior session between anticipated support (2100.25) and resistance (2115.00) outlined in prior Daily Trade Strategy 06.01.15 settling at Volume Trend giving a wide range day formation. The Battle of the Bots continues in overnight trade, again with wide price range between 2112.75 – 2094.75. Price reached the lower TargetMaster Range Breakdown Target (2095.75) before springing back to 2106.00.
Today is Cycle Day 2 (CD2)…Odds of Rally > 10 = 83%; Odds of Rally > 20 = 45%; Average Range = 14.50; Max Average Range = 22.50; Possible HOD = 2106.50 based upon average range; Possible LOD = 2095.25 based upon max 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 price can hold above PL (2100.25) during cash session, THEN initial upside target 2106.00, followed by 2109.00 – 21110.50 Central Pivot Zone. Above this zone measure 2112.00, then 2116.00 – 2117.75.
Scenario 2: IF price violates and converts PL (2100.25). THEN initial target 2095.25. projected LOD (which has been satisfied)…Further violation below this level measures deep extreme CD2 Violation Target 2089.50.
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