S&P 500 (ES)
Prior Session was Cycle Day 3 (CD3): Positive Cycle Statistic had been fulfilled early in this cycle with the rally reaching price objectives. Range was was 84.50 on 1.359M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is some magnitude decline, with average measuring 3371. Average CD1 Range is 59 handles. Price is holding firm bid during overnight trading. As such, there are two scenarios to consider for today’s trading.
1.) Price sustains a bid above 3415, initially targeting 3435 – 3440 zone.
2.) Price sustains an offer below 3415, initially targeting 3405 – 3395 zone.
P -VA High = 3405 P – VA Low = 3363 P – POC = 3395
Range Projections and Key Levels (ES) December 2020 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)… Price has firm bid above prior session’s range. As such, there are two scenarios to consider for today’s trading.
P – VA High = 11355 P – VA Low = 11308 P – POC = 11337
Bull Scenario: IF Bulls hold bid above 11525, THEN initial upside estimate targets 11573 – 11602 zone.
Bear Scenario: IF Bears hold offer below 11525, THEN initial downside estimate targets 11505 – 11475 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) Contract
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!
“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.
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