U.S. equity futures are starting the week up 0.3% after the DJIA turned positive for 2020 and Wall Street posted its fifth consecutive week of gains.
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Prior Session was Cycle Day 2 (CD2): Normal CD2 as price did ‘back n fill’ holding firm the current uptrend. Range was 28.75 handles, slightly above 10-day average of 27, with 1.131M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is once again at new all-time high territory on this last day of August. Positive 3-Day Cycle Statistic is fulfilled. We then have two scenarios to consider for today’s trading.
1.) Price sustains a bid above 3510, initially targeting 3517 – 3520 zone.
2.) Price sustains an offer below 3510, initially targeting 3500 – 3495 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3498 PVA Low Edge = 3486 Prior POC = 3492
Range Projections and Key Levels (ES) September 2020 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is extending prior session gains above prior high, fulfilling Positive 3 Day Cycle Statistic.. Price is above prior value zone and as such, there are two scenarios to consider:
PVA High Edge = 11998 PVA Low Edge = 11960 Prior POC = 11993
Bull Scenario: IF Bulls sustain a bid above 12018, THEN initial upside estimate targets 12045 – 12055 zone.
Bear Scenario: IF Bears sustain an offer below 12018, THEN initial downside estimate targets 11990 – 11960 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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