***New: PTG Trading Room Chat Log’s Link
***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication
Tuesday’s Session was Cycle Day 3 (CD3): Bullish price gap held back test, at which time price continued its upward trek fulfilling Cycle Objectives. Range was 29.25 handles on 1.106M 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 3769.25. Price closed strong in the upper quartile of the prior range, thus, expectation is for a continuation rally for GLOBEX and RTH sessions. As of this writing (8pm Tuesday evening) price is pushing above Prior High (3797) and approaching CD1 Penetration Level (3807.50) There are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3800, initially targets 3810 – 3818 zone.
2.) Price sustains an offer below 3797, initially targets 3785 – 3780 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet >> Cycle Day 1 (CD1)
PVA High Edge = 3795 PVA Low Edge = 3782 Prior POC = 3793
Range Projections and Key Levels (ES) March 2021 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Continuation Rally for NAZ extended quiet holiday trade throughout prior session, closing in upper quartile of daily range. Expectation is for further expansion before the normal CD1 decline begins which measures 12958. Prior range was 222 handles on 411k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13008 PVA Low Edge = 12892 Prior POC = 12988
Bull Scenario: IF Bulls sustain a bid above 13064, THEN initial upside estimate targets 13077 – 13104 zone.
Bear Scenario: IF Bears sustain an offer below 13064, THEN initial downside estimate targets 13045 – 13033 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
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
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