OP: Setting the Stage
***Written 8 pm Tuesday evening for Wednesday’s trading Tuesday’s Session was Cycle Day 1 (CD1): Most of the session was of the moderately choppy variety, as it was an “inside-inside” value type day. Price did eventually decline to the projected CD1 Average Decline Target (3772) before rallying back fulfilling Average Rally Target (3792.75). Range was 38.75 handles on 1.195M contracts exchanged. … This leads us into Cycle Day 2 (CD2): Part of this cycle’s rally is in place, so expectation is for potentially more consolidation activity before breaking out directionally. There a...
Source: mrtopstep.com