Price held early test of Cycle Day 1 Low in yesterday’s session and rebounded firmly throughout the day. Overnight trade continues to hold above prior Volume Trend Midpoint and as such in in position to challenge and exceed key 2118.00 handle. Current 3-Day Cycle Target is 2122.00 with extension levels measuring 2126.00 handle.
Today is Cycle Day 3 (CD3)…Bullish momentum is intact and there is still room for price to reach and exceed Cycle Target (2122.00)…Odds of 3D Rally > 10 = 82%; Odds of 3D Rally > 20 = 54%; Average Range = 17.75; Max Average Range = 21.50; Possible HOD = 2126 based upon penetration of CD2 high; Possible LOD = 2100.00 average cycle 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: IF price clears and converts PH (2116.00), THEN upside target is 2122.00 Cycle Target…Above this level measures 2126.00 cycle penetration target.
Scenario 2: Failure to convert PH (2116.00) keeps price within prior range…Subsequent violation of 2110.00 opens door for lower prices targeting 2105..2102.25..2100.00. Further violation of 2100 handle targets 2097.50, then 2094.50.
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