Trade Strategy 7.24.13 Slow Grind Higher

Price has consolidated sideways for two days following new marginal high last week. This action is a “slow grind” for traders…Support structure remains intact, so path of least resistance is higher as bulls continue to target the 1700 handle. Today is Day 3 of Bullish Cycle and would be a good opportunity for bulls to push price to 1700 – 05 zone for upper target.

Solid support resides 1684 – 86 zone. Any violation of this level reverses the bullish attitude and lower projected targets back down towards 1673 – 75 zone.

Volatility remains very low which means Mr. Market is complacent…Big moves can occur seemingly out of the blue with this type of atmosphere, so remain vigilant and disciplined with stops.

Good Trading…David

Habitude Three
I am willing to accept loss. Losing is an integral part of the process. I know and accept that individual losses and losing periods will happen. They are endemic to trading. I do not like loss. I do not expect loss. I simply accept loss as a cost of doing business.


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