Markets (Top Stories)
As we enter the 2024 trading year, traders can expect a year filled with both challenges and opportunities, particularly in light of the upcoming election. To navigate this complex landscape, it is essential to identify the “core lean” or directional bias, and align trade strategies accordingly.
Fortunately, The Daily Trade Strategy (DTS) provides an intra-day guide to identify a key Line-in-the-Sand (LIS) from which to gear directional bias. This LIS serves as an “over/under” zone, indicating when market biases are likely to flip bullish or bearish. Initial high-probability target zones are provided to determine adequate reward/risk potential.
Additionally, the Taylor Three-Day Cycle is referenced to determine the current cycle-day, providing valuable insights for traders. For those who are not familiar with the cycle, extensive education is available at the PTG 3-Day Cycle landing page. With these tools and insights, traders can navigate the 2024 trading year with confidence and success.
PTGDavid
Economic Calendar
https://www.investing.com/economic-calendar/
S&P 500
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle as price ended the year holding above critical 4800 support. Prior range was 44 handles on 1.129M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Current “sandbox” range to kick off the new year is 4800 – 4840. This is a shortened four (4) day trade sessions, as many traders are still on holiday, so we’ll anticipate a gradual rise in participating volumes..
Today is a Cycle Day 1 (CD1) with an Average Decline measuring 4806.75, which was fulfilled during prior session. Lots of real estate between lower and upper edges, so we’ll let Mr. Market determine the core direction. Our job as always, is to identify the primary direction, then alignment trade strategies accordingly. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4820, initially targets 4835 – 4840 zone.
Bear Scenario: Price sustains an offer below 4820, initially targets 4805 – 4800 zone.
PVA High Edge = 4823 PVA Low Edge = 4804 Prior POC = 4817
Range Projections and Key Levels (ES) March 2024 (H) Contract
HOD ATR Range Projection: 4854; LOD ATR Range Projection: 4784; 3 Day Central Pivot: 4828; 3 Day Cycle Target: 4894; 10 Day Average True Range 38; VIX: 12
Nasdaq 100 (NQ)
Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle as price ended the year holding above critical 16950 support. Prior range was 192 handles on 460k contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Current “sandbox” range to kick off the new year is 16940 – 17140. This is a shortened four (4) day trade sessions, as many traders are still on holiday, so we’ll anticipate a gradual rise in participating volumes..
Today is a Cycle Day 1 (CD1) with an Average Decline measuring 16952.75, which was fulfilled during prior session. Lots of real estate between lower and upper edges, so we’ll let Mr. Market determine the core direction. Our job as always, is to identify the primary direction, then alignment trade strategies accordingly. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 17025, initially targets 17100 – 17120 zone.
Bear Scenario: Price sustains an offer below 17025, initially targets 16955 – 16935 zone.
PVA High Edge = 17043 PVA Low Edge = 16943 Prior POC = 17025
Range Projections and Key Levels (NQ) March 2024 (H) Contract
HOD ATR Range Projection: 17175; LOD ATR Range Projection: 16875; 3 Day Central Pivot: 17090; 3 Day Cycle Target: 17328; 10 Day Average True Range: 162; VIX: 12
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!
Good Trading…David
“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.
Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.
This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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