Trading
Price held “Key Support” at 2034 handle in prior session to rally up to stated target 2068 laid out in prior DTS 07.06.15. In overnight trade price has extended gains up to “Key Resistance” at 2078 handle. Price will need to convert this level for further expansion. Average Cycle Rally Target measures 2085.00
Today is Cycle Day 3 (CD3) Odds of 3 Day Rally > 10 = 84%; Odds of 3 Day Rally > 20 = 54%; Average Range = 17.75; Max Average Range = 21.50; Possible HOD = 2085 based upon average cycle rally; Possible LOD = 2057.75 based upon max average range on CD3.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses: September (U) Contract
Scenario 1: IF price can clear and convert 2078.50, THEN there is a 40% chance of extending to Cycle Target 2085.00. Expectation would be to find responsive buyers on pullbacks.
Scenario 2: Failure to convert 2078.50 suggests buyers are satisfied, and we would then be anticipating a decline beginning initially targeting 2066.50 – 2063.50 3D CPZ, followed by 2057.75 – 2052.50.
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!
Good Trading…David
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee