Market Overview:
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Morning Session: PTGDavid announced a significant update for Take Profit Trader (TPT), removing the daily loss limit from accounts, and offering a 50% discount for new subscribers with the promo code PTGFUNDING. Link >> https://takeprofittrader.com/?referralCode=PTGFUNDING
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Trading Strategy: Emphasized a non-directional approach in the early session, focusing on “early rhythms” and sandbox trading with a range of 12-32 points.
Market Analysis:
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Key Levels: The day’s primary focus was on the Level of Interest (LIS) at 5865, with discussions around its significance for both the current and upcoming trading days.
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Market Movement: PTGDavid highlighted that the market required nimble decision-making due to the day’s consolidation and sideways movement, with specific attention to the closing gap being filled at the LIS.
Technical Points:
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Bots and Automation: Confirmed that trades are automated, suggesting reliance on algorithmic trading for timely execution.
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Market on Close (MOC): Noted a buy imbalance of $913M, with a small buy reaction, urging the bulls to maintain the bid to close the day.
Future Outlook:
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Daily Pivot: Identified at 5875, expected to act as a key level (LIS) for the next trading day, Tuesday.
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Closing Momentum: The day ended with bullish momentum, suggesting a strategic alignment on the long side during pullbacks.
General Trading Philosophy:
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PTG’s Approach: Reiterated that PTG does not predict market movements but rather aligns with the dominant market forces, highlighting the importance of sticking to one’s trading plan regardless of market changes.
Educational and Membership Notes:
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Mentioned that detailed strategy courses are available under the Quarterly membership plan, including personalized one-on-one sessions for strategy development on funded accounts.
Conclusion: The trading session was characterized by a focus on key levels, the strategic use of automation, and maintaining flexibility in trading decisions amidst a choppy market.
PTGDavid’s updates provided actionable insights into market behavior and strategic adjustments for traders following PTG’s methodologies.