Trade Strategy 10.11.17

Markets
 
In Asia, Japan +0.28%. Hong Kong -0.36%. China +0.16%. India -0.28%
In Europe, at midday, London -0.08%. Paris -0.18%. Frankfurt +0.02%
Futures at 6:20, Dow -0.06%. S&P -0.11%. Nasdaq -0.11%. Crude +0.82% to $51.34. Gold -0.16% to $1,291.70. 
Ten-year Treasury Yield +1bps tp 2.346%
 
 (Source: Seeking Alpha)

Economic Calendar 

7:00 MBA Mortgage Applications
9:00 Fed’s Evans: Monetary Policy
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $24B, 3-Year Note Auction
1:00 PM Results of $20B, 10-Year Note Auction
2:00 PM FOMC minutes

PTG Trading

Failed breakout attempt for indexes in prior session sent prices back into their respective ranges and stabilized by settlement. Quiet overnight trade keeps price within a consolidating uptrend. It would take a decisive conversion below two consecutive 3 Day Central Pivot Zones to quality for a shift in sentiment.

Today is Cycle Day 3 (CD3)…Price did achieve the minimum 3 Day Cycle Rally Target 2552 – 54 zone, so as such the next decline can begin at anytime. Bears still need to convert 2543 handle to lower resistance.

STAY NIMBLE and ALWAYS USE PROTECTIVE STOPS.

Range Projections and Key Levels (ES)

HOD  ATR Range Projection: 2555.00; LOD ATR Range Projection: 2539.00; Cycle Day 1 Low: 2539.25; 3 Day Central Pivot: 2546.00; 3 Day Cycle Target: 2555.00; 10 Day Average True Range: 10.77; VIX: 10.31

**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.

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Today’s Hypotheses: December 2017 (Z) Contract

*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.

Scenario 1:  IF price clears and converts 2550, THEN upside targets 2555 handle.

Scenario 2:  IF price violates and converts 2543, THEN downside targets 2539 handle.

Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.

Stay Focused…Non-Biased…Disciplined  ALWAYS USE STOPS!

Good Trading…David

“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee

*****This trade strategy report is disseminated for “education only” and should not be viewed in any way as a recommendation to buy or sell futures products.”

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.

Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.

This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN