U.S. stock futures have pared almost all overnight losses to trade back at the starting line after shares in Shanghai closed up 3%.
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Prior Session was Cycle Day 2 (CD2): Morning weakness converted into Afternoon strength as Options Expired. Overall it was a normal CD2 with 28.75 handle range.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Overnight trading saw price successfully test Cycle Day 1 Low (3188.50), rallying back to 3 Day Central Pivot Zone. Positive Cycle Statistics are in-place and as such we’ll mark today as a “wild-card”. We then have two scenarios to consider for today’s trading.
1.) Price sustains a bid above 3210, initially targeting 3220 – 3225 zone.
2.) Price sustains an offer below 3210 initially targeting 3200 – 3195 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3220 PVA Low Edge = 3207 Prior POC = 3213
Range Projections and Key Levels (ES) September 2020 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is trading near highs of session as early overnight weakness has converted into strength. Positive 3 Day Cycle is in-place and as such we’ll mark today as a “wild-card”. We have two scenarios to consider for today’s session:
PVA High Edge = 10634 PVA Low Edge = 10578 Prior POC = 10607
Bull Scenario: IF Bulls sustain a bid above 10615, THEN initial upside estimate targets 10658 – 10688 zone.
Bear Scenario: IF Bears sustain an offer below 10615, THEN initial downside estimate targets 10578 – 10548 zone.
Range Projections and Key Levels (NQ) September 2020 (U) 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.
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