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Prior Session was Cycle Day 2 (CD2): Once again early strength could not hold as price reversed downward, as a Bi-Modal high volatile range day unfolded. Range was 158 handles on 2.232M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Selling continues to dominant the trading landscape as price is currently trading on its lows pre-RTH. Bulls will need to recover CD1 Low (4292.25) during RTH to secure a positive cycle. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4275, initially targets 4294 – 4305 zone.
2.) Price sustains an offer below 4275, initially targets 4248 – 4239 zone.
PVA High Edge = 4342 PVA Low Edge = 4338 Prior POC = 4278
Range Projections and Key Levels (ES) March 2022 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently trading on lows pre-RTH as “risk-off” remains the dominant theme at week-end. Bulls need to recover CD1 Low (13945.50) to avert a failed cycle. Prior range was 565 handles on 859k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustain a bid above 13844, THEN initial upside estimate targets 13920 – 13945 zone.
Bear Scenario: IF Bears sustain an offer below 13844, THEN initial downside estimate targets 13798 – 13769 zone.
PVA High Edge = 14413 PVA Low Edge = 13975 Prior POC = 14125
Range Projections and Key Levels (NQ) March 2022 (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
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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