Morning Session:
The trading day began with a continuation of weakness from the prior session. PTGDavid highlighted the lower target zone of 5930-5925 as outlined in the DTS Briefing. Early birds benefited from a PKB Long setup triggered at 5935, producing a +20-handle move. The morning’s theme reflected a “Traders Market,” with rotational rhythms and ample opportunities.
David emphasized the importance of being prepared, likening traders to fishermen who must be ready when the “fish are biting.” He noted that VWAP positioning (P < VWAP) gave an advantage to bears early in the session.
Mid-Morning Update:
Price action respected key levels from the DTS Briefing. The upper target zone of 5965-5970 saw multiple tests, aligning with gamma levels discussed by the group. Despite some rejection at these levels, market rhythms offered proactive traders numerous opportunities.
Key Takeaways:
- Focus on structured setups like PKB Longs and reclaiming key zones.
- Markets adhered closely to pre-determined levels, reinforcing the reliability of the PTG Daily Trade Strategy.
Afternoon Session:
As the day progressed, bulls attempted a breakout above the range. Sustaining a bid above 5945 was critical to targeting 5965-5970. The afternoon leaned towards “dip longs” within the prevailing structure, as David reminded traders to stay proactive and leverage tools for consistent execution.
David also shared insights into broader trading principles, urging participants to:
- Prioritize plan adherence over short-term P&L.
- Focus on long-term consistency rather than daily wins and losses.
Key Levels Highlighted:
- Line in the Sand: 5945
- VWAP: 5946.50
Final Thoughts:
The day concluded with David emphasizing the DTS Briefing’s theme of “buy the dips and sell the rips.” He reminded traders to stay in alignment with the dominant market force and maintain disciplined execution.
With tomorrow designated as a National Day of Mourning for former President Jimmy Carter, markets will close early, and PTG operations will pause. David signed off, wishing everyone a productive and restful day off, promising to return Friday.
Summary Quote:
“Embrace the rhythms, follow your plan, and stay aligned with the dominant force. Consistency is the key to long-term success.”