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Prior Session was Cycle Day 2 (CD2): Normal CD2 session as price consolidated throughout the session with bullish FOMC presser. Prior range was 21 handles on 1.251M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Objective (4200.75) has been fulfilled during overnight trade as price pushed higher achieving yet another new all-time high. The only “theme” that comes to mind is Aerosmith’s “Train Kept a Rollin'” (original by “The Yardbirds”) as bulls appear unstoppable. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4200, initially targets 4208 – 4213 zone.
2.) Price sustains an offer below 4200, initially targets 4195 – 4180 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4185 PVA Low Edge = 4177 Prior POC = 4182
Range Projections and Key Levels (ES) June 2021 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Positive tech earnings continue to support a strong bid with NQ. Price has fulfilled 3 Day Cycle Objective (14011) and is currently trading above prior value zone during overnight trade. Prior range was 116 handles on 497k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13944 PVA Low Edge = 13895 Prior POC = 13916
Bull Scenario: IF Bulls sustain a bid above 14022, THEN initial upside estimate targets 14034 – 14048 zone.
Bear Scenario: IF Bears sustain an offer below 14022, THEN initial downside estimate targets 14000 – 13995 zone.
Range Projections and Key Levels (NQ) June 2021 (M) 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.
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.
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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