8.27.13 Trade Strategy

Yesterday’s rejection from the “Unfair High” zone is exactly what we were looking for short trade opportunity.

See Twitter post: https://twitter.com/TradePilotPro/status/371970248376713216/photo/1

Nervousness about Syria’s deteriorating situation pulled markets down sharply and currently in overnight trade ES is down 12 handles to the lower edge of seven-day range near 1642…On the edge of “Unfair Low” zone. This may present a buying opportunity, but the current wildcard regarding potential military strikes against Syria will keep bulls tentative on establishing new positions until there is some clarity of Middle East conflicts.

Pre-market action has price trading already at lower projected range targets at 1641 – 43 zone. Any further weakness could push price down to prior low at 1631 handle for a retest. Initial resistance on any rally attempt could be sold into between 1650- 56 zone.

Good Trading…David

Habitude Twelve
I am disciplined. I behave in a way to reach my goals. I do what I intend to do. I have the intent to win through right actions. I will be patient for patterns to emerge and mature. I am decisive. I decide easily and act promptly. I act in the right way and right on time. When there is nothing to be done, I will wait.



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