Yesterday’s action was exactly what we were looking for…Range Day Type with responsive buying on dips. Bulls remained engaged to “stay the course” of buying any perceived weakness…Until there is a price structure break and sentiment shift, price should continue to grind higher. Friday’s release of Non-Farm Payroll may provide additional catalyst for price movement.
Key initial support will be marked at 1872 – 74 zone with layered levels 1868 – 70. IF price penetrates Prior Day High (PDL) and converts, THEN yesterday’s price targets remain “in-play”…1878 -1885 zone. IF price violates Prior Day Low (PDL), THEN 1863 – 66 zone becomes the zone to watch.
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Habitude Six
I am at peace with uncertainty. I know there is no such thing as a sure thing. I have no particular need to be right. I understand that being perfect has no place in trading. I am flexible. I am willing to change my mind. I am alert to scenario changes. I accept the information that tells me I am on the right track or on the wrong track.