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Prior Session was Cycle Day 3 (CD3): 3 Day Cycle Statistic was fulfilled as price failed to expand higher sparking an early decline which recovered, but ultimately closed weak. Range was 39 handles on 1.396M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is some magnitude decline, with average measuring 3767.50 which was fulfilled and exceeded during prior session. Overnight price declined further to CD1 Violation Zone before rallying back to within prior value zone. MLK Holiday with shortened futures session. Cash Equity Markets are closed. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3758, initially targets 3768 – 3775 zone.
2.) Price sustains an offer below 3758, initially targets 3748 – 3740 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3778 PVA Low Edge = 3760 Prior POC = 3775
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3793; LOD ATR Range Projection: 3715; 3 Day Central Pivot: 3788; 3 Day Cycle Target: 3798; 10 Day Average True Range 52; VIX: 24
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is trading at prior value area low (12804) during overnight trade. Prior Range was 188 handles on 518k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12893 PVA Low Edge = 12804 Prior POC = 12845
Bull Scenario: IF Bulls sustain a bid above 12790, THEN initial upside estimate targets 12815 – 12830 zone.
Bear Scenario: IF Bears sustain an offer below 12790, THEN initial downside estimate targets 12765 – 12755 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12948; LOD ATR Range Projection: 12596; 3 Day Central Pivot: 12898; 3 Day Cycle Target: 12935; 10 Day Average True Range: 221; VIX: 24
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