Trade Strategy 8.09.13 “Persistent Resistance”

There continues to be “persistent resistance” at the 1693 – 96 zone. Failure to penetrate this zone keeps the short-term downtrend in place. The 3D CPZ continues to notch lower levels which confirms recent weakness. Strategy is to sell rallies with valid trade signals. Any penetration and hold of 1697.00 targets 1700 – 06 zone.

Prior Day Low (PDL) at 1684.50 is reaction support for now…IF this level is violated, THEN a quick drop to 1680.50 should unfold…Further violation of this level may result in long liquidation with lower targets being 1672 – 74 zone.

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.

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