Trade Strategy 2.28.19

Markets

In Asia, Japan -0.8%. Hong Kong -0.4%. China -0.4%. India -0.1%. 
In Europe, at midday, London -0.5%. Paris flat. Frankfurt -0.1%. 
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.4%. Crude -0.4% to $56.73. Gold +0.5% to $1327.90. Bitcoin +0.3% to $3819. 
Ten-year Treasury Yield -2 bps to 2.67%

Source: Seeking Alpha

Economic Calendar

http://mam.econoday.com/

8:00Fed’s Clarida: “Promoting Global Growth and Domestic Economic Security”
8:30GDP Q4
8:30Initial Jobless Claims
8:50Fed’s Bostic: “Economic and Housing Landscape”
9:45Chicago PMI
10:30EIA Natural Gas Inventory
11:00Kansas City Fed Mfg Survey
12:15 PMFed’s Harker: Economic Outlook
1:00 PMFed’s Kaplan Speech
3:00 PMFarm Prices
4:30 PMMoney Supply
4:30 PMFed Balance Sheet

***PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 2 (CD2)…Price is testing the low 80’s support zone established in prior session’s decline. Bulls will need to continue absorbing any further selling and convert 2790 – 2794 zone to new upper support.

CD1 Range High = 2805.50       CD1 Range Low = 2771.75    CD1 Range Avg = 24.00

Scenario 1: IF Bulls hold bid above 2790.00, THEN initial upside potential targets 2795 – 2800 zone.

Scenario 2: IF Bears hold offer below 2790.00, THEN initial downside objective targets 2780.00 – 2775 CD1 Low Zone.

Range Projections and Key Levels (ES) March 2019 (H) Contract

HOD  ATR Range Projection: 2802.00; LOD ATR Range Projection: 2775.00; 3 Day Central Pivot: 2794.00; 3 Day Cycle Target: 2803.00; 10 Day Average True Range 20.50; VIX: 15.00

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price has pulled back approximately 50% of prior session range and within previous Value Zone. Expectation for today would be for price to ‘back n fill’ a bit, with possibility of testing CD1 Low for surety. Bulls will need to convert 7120 to new upper support for further upside potential.

CD1 Range High = 7129.00          CD1 Range Low = 7066.00          CD1 Range Avg = 56.25

Scenario 1: IF Bulls hold bid above 7085.00, THEN initial upside potential targets 7110 – 7120 zone.

Scenario 2: IF Bears hold offer below 7085.00, THEN initial downside objective targets 7066 – 7052.50 CD2 ATR Range Low Zone.

Range Projections and Key Levels (NQ) March 2019 (H) Contract

HOD  ATR Range Projection: 7143.00; LOD ATR Range Projection: 7052.50; 3 Day Central Pivot: 7115.00; 3 Day Cycle Target: 7115.00; 10 Day Average True Range: 70.00; VIX: 15.00

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


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