Prior Session was Cycle Day 3 (CD3): Price rallied surpassing prior high-fulfilling cycle objectives, then the decline began closing in the lower quartile of the day’s range. Prior range was 35 handles on 1.227M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 3969. Normal for CD1 is a decline to find a new secure cycle low. As such, estimated scenarios to consider for today’s trading.