Trade Strategy 4.11.19

Markets

In Asia, Japan +0.1%. Hong Kong -0.9%. China -1.6%. India +0.1%. 
In Europe, at midday, London +0.1%. Paris +0.7%. Frankfurt +0.3%. 
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude -0.9% to $64.04. Gold -0.5% to $1307.90. Bitcoin -3.1% to $5067. 
Ten-year Treasury Yield unchanged at 2.48%

Source: Seeking Alpha

Economic Calendar

http://mam.econoday.com/

8:30Initial Jobless Claims
8:30Producer Price Index
9:30Richard Clarida: Economic Outlook and Monetary Policy
9:35Fed’s Williams Speech
9:40Fed’s Bullard: U.S. Monetary and Economic Policy
10:30EIA Natural Gas Inventory
1:00 PMResults of $16B, 30-Year Note Auction
4:00 PMMichele Bowman: “Community Banking in the Age of Innovation”
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 pulled back during overnight trade and found responsive buyers with 3 Day Central Pivot Zone (2889.25 – 2891.25). Next objective is for bulls to convert 2900 Roundie to solid upper support to continue the current cycle rally targeting 2908.50.

CD2 Range High = 2914.00       CD2 Range Low = 2876.00    CD2 Range Avg = 33.00

Scenario 1: IF Bulls hold bid above 2890, THEN initial upside potential targets 2902 – 2906 3 Day Cycle Penetration Zone.

Scenario 2: IF Bears hold offer below 2890, THEN initial downside objective targets 2885 – 2880 zone.

Range Projections and Key Levels (ES) June 2019 (M) Contract

HOD  ATR Range Projection: 2909.25; LOD ATR Range Projection: 2880.75; 3 Day Central Pivot: 2890.25; 3 Day Cycle Target: 2906.00; 10 Day Average True Range 19.50; VIX: 13.00

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price pulled back during overnight trade finding buy response at 7625 prior Value Area High. 3 Day Cycle objective (7660) has been fulfilled, so next objective is to convert this level to upper support to continue this cycle’s rally targeting 7667 – 7681 zone.

CD2 Range High = 7681.00          CD2 Range Low = 7604.00          CD2 Range Avg = 56.50

Scenario 1: IF Bulls hold bid above 7625, THEN initial upside potential targets 7668 – 7681 CD2 Penetration Zone.

Scenario 2: IF Bears hold offer below 7625, THEN initial downside objective targets 7615 – 7605 3 Day Central Pivot Zone.

Range Projections and Key Levels (NQ) June 2019 (M) Contract

HOD  ATR Range Projection: 7690.00; LOD ATR Range Projection: 7595.50; 3 Day Central Pivot: 7610.00; 3 Day Cycle Target: 7660.00; 10 Day Average True Range: 65.50; VIX: 13.00

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