10:00 Job Openings and Labor Turnover Survey
11:15 Fed’s Clarida: U.S. Economic Outlook and Monetary Policy
11:30 Results of $58B, 3-Year Note Auction
1:00 PM Results of $38B, 10-Year Note Auction
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): Early test of prior high failed to surpass, as such price begin it’s decent throughout the session. Range was 64 handles on 1.207M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is for a decline, with average measuring 4364, which has been surpassed during prior CD3 session. Overnight activity pushed price down to CD1 Violation Zone (4329 – 4323) where responsive buyers stepped in to reverse the downward momentum. Pre-RTH price has rallied back to prior Buy Day Low (4355). As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4355, initially targets 4365 – 4370 zone.
2.) Price sustains an offer below 4355, initially targets 4345 – 4340 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4394 PVA Low Edge = 4355 Prior POC = 4369
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4484; LOD ATR Range Projection: 4290; 3 Day Central Pivot: 4382; 3 Day Cycle Target: 4368; 10 Day Average True Range; 67; VIX: 19
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is rallying back higher following overnight successful textbook test of CD1 Violation Level (14598). Prior range was 220 handles on 508k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14833 PVA Low Edge = 14705 Prior POC = 14781
Bull Scenario: IF Bulls sustain a bid above 14750, THEN initial upside estimate targets 14778 – 14788 zone.
Bear Scenario: IF Bears sustain an offer below 14750, THEN initial downside estimate targets 14705 – 14680 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 14857; LOD ATR Range Projection: 14483; 3 Day Central Pivot: 14835; 3 Day Cycle Target: 14788; 10 Day Average True Range: 271; VIX: 19
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 SHOWN