Successful Test of Symmetry Support

Prices opened firmer in prior session testing the upper edge of range (1828) and eventually got rejected, sending price back down to test symmetry support zone at 1810…Buyers aggressively stepped in to reverse price sending it back higher to close in upper quartile of session’s range. This qualifies as successful test of symmetry support between 1805 – 1810 zone, which now becomes “key marker” on any future retest. Further confirmation is needed by pushing price above 1828 level.

IF price can push above 1828 and convert, THEN upside targets 1831.25 – 1834 zone, followed by 1838.50 – 1840 zone. Failure is sustain a bid above prior session high reflects lack of bullish conviction with potential for trade retracing back into prior range with initial support between 1818 – 1821 zone.

Given late day momentum, expectation is for price to move above prior session high testing upper levels. Trade Strategy today is simply to trade along with dominant force and buy pullbacks to key dynamic support zones until there is a shift of control.

Remain Disciplined….ALWAYS USE STOPS!

Good Trading…David

Habitude Nine
I will identify my mistakes and learn from them. I am optimistic, realistic and honest. I will not make up stories about the good or bad things that occurred in the past or are happening now. I admit when something is not working. My optimism gives me faith and courage. I will not fall prey to blame and fear.

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