Yesterday’s Daily Trade Strategy 11.13.14 placed odds at 57% of reaching TargetMaster Breakout Level 1 (2041.25) if Cycle Day 1 high was cleared and converted. Early strength pushed price up to anticipated target zone before “topping-out”…which was followed by aggressive initiative selling driving price all the way back down to Key Decision Point Zone between 2026 – 28 where responsive buyers reacted to support price.
Today is Cycle Day 3 (CD3)…There is room for further price strength although yesterday’s aggressive selling after reaching initial targets may cap recent price high…Price is currently above CD1 low (2026.75) and will need to stay above today to qualify as bullish 3-Day Cycle. Any violation and conversion of 2026.75 could result in some long liquidation.
Odds of 3D Rally > 10 = 82%; Odds of 3D Rally > 20 = 53%; Average Range on CD3 = 17.75; Max Range = 21.50; Possible High = 2053.50 based upon converting CD2 high; Possible Low = 2023.75 based upon Range Parameters.
***Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.
Today’s Hypotheses:
Scenario 1: Price would need to clear and convert PDH (2043.75) for any additional range expansion…IF so, THEN targets measure 2051.50 – 2053.25.
Scenario 2: Failure to expand prior days range keeps price confined within 20 handle 3-Day Range between 2042.50 – 2022.50. Any penetration or violation of these levels will expand recent range…Expectation will be for price action for today is containment within these parameters.
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 of 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
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.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS