Sell-Off continued pushing price past average range targets down to STATX Extremes between 2023- 25 zone. Today begins futures contract rollover…Front Month is March, 2015 “H”…Spread Discount = 7 handles.
Today is Cycle Day 1 (CD1): Odds of a decline > 10 = 71%; Odds of Decline > 20 = 41%; Average Range of CD1 = 18.75; Max Range = 21.75; Possible High = 2060.00; Possible Low = 2008.75.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Scenario 1: With yesterday’s strong decline to deep extremes (2023.25), price will need to hold any retest of this low…First upside objective 2036 – 2038 zone, followed by 2041.75 – 2043.75 TargetMaster Breakout Level.
Scenario 2: Typically on CD1 odds favor decline greater than 10 handles…That certainly could still occur if selling continues into day-session trade. Having reached deep extremes in prior session, it would take a violation of PDL (2023.25) and conversion to force additional long liquidation, which targets layered levels between 2018 – 2015.25 – 2012.75 – 2008.75 TargetMaster 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 of 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!
I am ready to trade. My patterns are verified. My homework is complete. My mind is clear. I have rehearsed everything. I am prepared strategically, emotionally, and financially each and every day.