(Source: Seeking Alpha)

Economic Calendar 

9:15 Fed’s Bullard: U.S. Monetary and Economic Policy
1:00 PM Baker-Hughes Rig Count
1:40 PM Fed’s Williams Speech

PTG Trading

Weekly Review and Preview can be viewed @ PTG Preview 5.15 – 5.19

Relief Rally in prior session reached 2375 breakdown level before backing off settling off the high but in solid gain territory. Overnight price is holding gains above 2361.

Today is Cycle Day 2 (CD2) Price has reached the Average 3 Day Cycle Target of 2371…As such, today may see some back n fill as Option Expiration will most likely rule trade action today.

Cycle Range High = 2378.75…Cycle Range Low = 2348.83

Range Projections and Key Levels

HOD  ATR Range Projection: 2376.00; LOD ATR Range Projection: 2356.00; Cycle Day 1 Low: 2344.50; 3 Day Central Pivot: 2376.25; 3 Day Cycle Target: 2371.00; 10 Day Average True Range: 15.48

**Note: The odds highlighted are NOT predictions or trade recommendations, rather a guide based upon historical observed occurrences.

Today’s Hypotheses: June 2017 (M) Contract

*****The levels outlined below are more general framework within a larger range…They are to be used are reference prices from which to consider trade opportunities, not hard trade levels.

Scenario 1:  IF price holds ONL (2361) then clears and converts 2366 to upper support, THEN retest of PH (2375) may unfold.

Scenario 2:  IF price violates and converts ONL (2361) to lower resistance, THEN retest of 2358 – 56 zone may unfold.

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.

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