Trade Strategy 2.8.19

Markets

In Asia, Japan -2%. Hong Kong -0.16%. China closed. India -1.14%. 
In Europe, at midday, London +0.15%. Paris +0.21%. Frankfurt +0.13%. 
Futures at 5:30, Dow -0.29%. S&P -0.33%. Nasdaq -0.49%. Crude +0.02% to $52.65. Gold +0.01% to $1,314.30. Bitcoin +0.92% to $3,487.
Ten-year Treasury Yield flat at 2.648%.

(Source: Seeking Alpha)  

Economic Calendar

http://mam.econoday.com/

1:00 PM Baker-Hughes Rig Count
1:15 PM Fed’s Daly Speech 8:55 Redbook Chain Store Sales
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
1:00 PM Results of $24B, 3-Year Note Auction

*****New PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 3 (CD3)…Price is currently well below CD1 Low following prior session’s sell-down and testing prior low. Potential 3 Day Cycle Failure if bulls are unsuccessful recovery rally.

CD3 Range High = 2710.50          CD3 Range Low = 2679.75          CD3 Range Avg = 23.50 

Scenario 1: IF price holds bid above 2695, THEN initial upside potential target measures 2704 – 2708 Central Pivot Zone.

Scenario 2: IF price holds offer below 2695, THEN initial downside target measures 2684.25 – 2679.00 STATX Zone.

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

HOD  ATR Range Projection: 2716.50; LOD ATR Range Projection: 2673.50; Cycle Day 1 Low: 2722.25; 3 Day Central Pivot: 2721.00; 3 Day Cycle Target: 2750.00; 10 Day Average True Range 29.50; VIX: 17.40

Nasdaq 100 (NQ)

Today is Cycle Day 3 …Price is currently well below CD1 Low following prior session’s sell-down and below prior low. Potential 3 Day Cycle Failure if bulls are unsuccessful recovery rally.

CD3 Range High = 6900.50         CD3 Range Low = 6847.50          CD3 Range Avg = 56.00

Scenario 1: IF price holds bid above 6880, THEN initial upside potential targets 6900.50 – 6918.50 Central Pivot Zone.

Scenario 2: IF price holds offer below 6880, THEN initial downside targets 6847.50 CD3 Range Low overlapping 6849.25 – 6833.00 STATX Zone.

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

HOD  ATR Range Projection: 6950.00; LOD ATR Range Projection: 6797.00; Cycle Day 1 Low: 6972.25; 3 Day Central Pivot: 6970.00; 3 Day Cycle Target: 7040.00; 10 Day Average True Range: 107.00; VIX: 17.40

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