Trade Strategy 1.23.20

Markets

In Asia, Japan -1%. Hong Kong -1.5%. China -2.8%. India +0.7%.
In Europe, at midday, London -0.3%. Paris flat. Frankfurt -0.4%.
Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq flat. Crude -1.5% to $55.88. Gold -0.2% to $1553.20. Bitcoin -2.6% to $8407.
Ten-year Treasury Yield -3 bps to 1.74%

Source: Seeking Alpha https://seekingalpha.com/

Economic Calendar

8:30Initial Jobless Claims
10:00Leading Indicators
10:30EIA Natural Gas Inventory
11:00Kansas City Fed Mfg Survey
11:00EIA Petroleum Inventories
4:30 PMMoney Supply
4:30 PMFed Balance Sheet

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

S&P 500

Today is Cycle Day 3 (CD1)…Positive 3 Day Cycle Statistic has been fulfilled, and with yesterday’s late session weakness into the close sets up a “wild-card” session. Bulls will need to recover back above 3323 – 3326 zone and Bears will be looking for a break below 3310 – 3312 pivot low zone.

CD1 Range High = 3333.00       CD1 Range Low = 3300.00         CD1 Range Avg = 21.50

Bull Scenario: IF Bulls hold bid above 3317, THEN initial upside targets 3323 – 3326 zone.

Bear Scenario: IF Bears hold offer below 3317, THEN initial downside targets 3312 – 3310 zone.

Range Projections and Key Levels (ES) March 2020 (H) Contract

HOD  ATR Range Projection: 3330.00; LOD ATR Range Projection: 3303.00; 3 Day Central Pivot: 3322.00; 3 Day Cycle Target: 3336.00; 10 Day Average True Range 17.78; VIX: 13.30

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD1)…Positive 3 Day Cycle Statistic has been fulfilled, and with yesterday’s late session weakness into the close sets up a “wild-card” session. Bulls will need to recover back above 9210 – 9212 zone and Bears will be looking for a break below 9185 – 9180 pivot low zone.

CD1 Range High = 9234.00           CD1 Range Low = 9150.00          CD1 Range Avg = 77.00

Bull Scenario: IF Bulls hold bid above 9188, THEN initial upside targets 9210 – 9212 zone.

Bear Scenario: IF Bears hold offer below 9188, THEN initial downside targets 9170 – 9164 zone.

Range Projections and Key Levels (NQ) March 2020 (H) Contract

HOD  ATR Range Projection: 9240.00; LOD ATR Range Projection: 9144.00; 3 Day Central Pivot: 9180.00; 3 Day Cycle Target: 9254.00; 10 Day Average True Range: 67.00; VIX: 13.30

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


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