***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 2 (CD2): Price oscillated back n forth as expected for this day type. Once price tested the projected CD2 Deviation Low (3673.25) this cycle’s rally took firm hold, finishing the session with 3 Day Cycle Target (3718) being fulfilled. Market on Close Buy Imbalance of $3.6 Billion capped the session. Range was 56.75 handles on 1.355M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Residual bullish momentum is anticipated to continue into today’s session, as Bulls have regained control. Although cycle objectives have already been fulfilled, additional upside targets are achievable. There are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3730, initially targets 3753 – 3759 zone.
2.) Price sustains an offer below 3730, initially targets 3710 – 3700 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 3 (CD3)
PVA High Edge = 3715 PVA Low Edge = 3682 Prior POC = 3709
Range Projections and Key Levels (ES) March 2021 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price successfully tested the CD1 Low (12522.50) during overnight trade and has bounced back to PL (12612). 3 Day Cycle Statistic has been fulfilled, so we’ll mark today as a “wild-card”. Prior range was 197 handles on 478k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12775 PVA Low Edge = 12691 Prior POC = 12741
Bull Scenario: IF Bulls sustain a bid above 12612, THEN initial upside estimate targets 12660 – 12690 zone.
Bear Scenario: IF Bears sustain an offer below 12612, THEN initial downside estimate targets 12540 – 12510 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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