Be Prepared….Don’t Predict

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Monday’s trade session had a bit of something for everyone…”Da Bears” enjoyed the morning session driving price down nearly 28 handles, only to have the Bulls stampede back pushing price up about 24 handles off the low. We cannot say Mr. Market isn’t an “equal opportunity” employer.

In yesterday’s Daily Trade Strategy (DTS), we projected resistance zone to be between (1868.25 – 1871.50)…The actual High of Day (HOD) was 1871.75. The projected support zone to be (1842.60 – 1846.00)…actual Low of Day (LOD) 1844.00..”dead center” within anticipated support zone. It was a “direct hit” on both zones…certainly a rare occurrence..but heck, we’ll take it.

We want to openly congratulate PTG Member, Amy P. who was able to capture an astounding 10 handle move in Monday’s Session, following the DTS,  along with our famed “Premium and Discount” Trade Setup. Congratulations Amy!

On to business today…

Early morning trade has price extending 6 handles higher beyond settlement, testing Prior Day High (PDH) 1871.75. IF the buying remains strong and robust, momentum initially targets STAT-X Zone between 1874.75 – 1878.00. Higher price targets measure 1880.75 – 1883.50. Should price fail to convert PDH, then pullback to 1864 – 66 zone would anticipate to be initial buy response…Additional lower levels that would come into-play on pullback are: 1859 – 62 zone, followed by 1856 – 58 zone. Below 1856.00 “marker” shifts the dynamics back to the bears advantage.

Follow The Plan….ALWAYS USE STOPS!

Good Trading…David

Habitude Five
I think in terms of probabilities. I do not know, all I have are probabilities. Probabilities are at the core of my decisions. Through consistent application of the probabilities, I will win.