***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 2 (CD2): Risk-Off was the “continuation-theme” for the start of 2023, as price initially opened with a bid, but quickly relinquished the early strength for persistent selling pressure throughout the session, closing near Mid-VWAP. Prior range was 92 handles on 1.715M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently below CD1 Low and has good historical odds of recovering this level, although Bear Market sentiment may squelch the attempt. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3850, initially targets 3870 – 3875 zone.
Bear Scenario: Price sustains an offer below 3850, initially targets 3825 – 3820 zone.
PVA High Edge = 3865 PVA Low Edge = 3818 Prior POC = 3845
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics 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 3 (CD3)
Range Projections and Key Levels (ES) March 2023 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently below CD1 Low and has good historical odds of recovering this level, although Bear Market sentiment may squelch the attempt. As such, estimated scenarios to consider for today’s trading. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 10950, THEN initial upside estimate targets 11000– 11025 zone.
Bear Scenario: IF Bears sustains offer below 10950, THEN initial downside estimate targets 10885 – 10865 zone.
PVA High Edge = 11032 PVA Low Edge = 10852 Prior POC = 10942
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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