8:30 Import/Export Prices
10:00 Consumer Sentiment
10:20 Fed’s Harker Speech
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): Price rallied fulfilling cycle objectives, then oscillated around the 4000 strike throughout the session. Prior range was 67 handles on 2.043M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline measures 3954. Normal for CD1 is a decline to find a new secure cycle low. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3990, initially targets 4010 – 4015 zone.
Bear Scenario: Price sustains an offer below 3990, initially targets 3970 – 3965 zone.
PVA High Edge = 4008 PVA Low Edge = 3983 Prior POC = 4000
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 4041; LOD ATR Range Projection: 3939; 3 Day Central Pivot: 3964; 3 Day Cycle Target: 4053; 10 Day Average True Range 69; VIX: 19
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline measures 11292. Normal for CD1 is a decline to find a new secure cycle low. As such, estimated scenarios to consider for today’s trading. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11470, THEN initial upside estimate targets 11520– 11535 zone.
Bear Scenario: IF Bears sustains offer below 11470, THEN initial downside estimate targets 11450 – 11430 zone.
PVA High Edge = 11548 PVA Low Edge = 11448 Prior POC = 11468
Range Projections and Key Levels (NQ) March 2023 (H) Contract
HOD ATR Range Projection: 11700; LOD ATR Range Projection: 11268; 3 Day Central Pivot: 11361; 3 Day Cycle Target: 11737; 10 Day Average True Range: 268; VIX: 19
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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CFTC RULE 4.41 –HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN