9:00 Fed’s Evans Speech
12:30 PM Investor Movement Index
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 2 (CD2): Risk-Off Friday was the end of week theme as prices closed near their respective lows. Range was 138 handles on 2.150M 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 (3750) and bulls will need to recover to avert a failed-cycle. That may be a “tall order” given the current risk-off theme. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 3640, initially targets 3660 – 3665 zone.
Bear Scenario: Price sustains offer below 3640, initially targets 3620 – 3615 zone.
PVA High Edge = 3690 PVA Low Edge = 3633 Prior POC = 3651
Range Projections and Key Levels (ES) December 2022 (Z) Contract
HOD ATR Range Projection: 3725; LOD ATR Range Projection: 3542; 3 Day Central Pivot: 3647; 3 Day Cycle Target: 3750; 10 Day Average True Range 108; VIX: 32
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is significantly below CD1 Low (11505) to start this week. It is going to be a tall-order for the bulls to recover to avert a failed three-day cycle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11050, THEN initial upside estimate targets 11100 – 11165 zone.
Bear Scenario: IF Bears sustains offer below 11050, THEN initial downside estimate targets 11000 – 10970 zone.
PVA High Edge = 11279 PVA Low Edge = 11043 Prior POC = 11096
Range Projections and Key Levels (NQ) December 2022 (Z) Contract
HOD ATR Range Projection: 11370; LOD ATR Range Projection: 10707; 3 Day Central Pivot: 11461; 3 Day Cycle Target: 11505; 10 Day Average True Range: 385; VIX: 32
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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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 SHOWN6.22.22