Topic: Taylor 3-Day Cycle
Author: David D Dube’ (a.k.a. PTGDavid)
Website: Polaris Trading Group
Prior Session was Cycle Day 1 (CD1): Price fulfilled Average Decline (3844 – 3835) Zone for this cycle day, as early strength could not hold, with sellers piling in succession. Prior range was 128 handles on 1.728M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Momentum has shifted to the sell-side as the final few trading days before the long July 4th holiday weekend. Expectation is for volumes to progressively lighten, but price volatility should remain intact. Unfortunately for the bulls, the ‘relief-rally” was but only a fleeting moment in a Bear Market. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3822, initially targets 3840 – 3845 zone.
Bear Scenario: Price sustains an offer below 3822, initially targets 3805 – 3800 zone.
PVA High Edge = 3904 PVA Low Edge = 3822 Prior POC = 3826
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet > > Cycle Day 2 (CD2)
Thanks for reading,