U.S. stock index futures start the week with an advance of .05%.
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Friday’s Session was Cycle Day 1 (CD1): Activity unfolded as a Normal CD1 with price declining, as options expiration along with end of week “walk-away” trade unfolded late in the session. Range was 38.25 handles on 1.254M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price has recovered three-fourths of last hour sell-down. Expectation is for wide range price action within context of prior session’s Value Zone. As such, there are two scenarios to consider for today’s trading.
1.) Price sustains a bid above 3490, initially targets 3495 – 3500 zone.
2.) Price sustains an offer below 3490, initially targets 3485 – 3480 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3498 PVA Low Edge = 3482 Prior POC = 3490
Range Projections and Key Levels (ES) December 2020 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Normal for CD2 is ‘back n fill’ consolidation price action, with potential to test the CD1 Low for surety. For today’s trading, there are two scenarios to consider.
PVA High Edge = 11960 PVA Low Edge = 11888 Prior POC = 11940
Bull Scenario: IF Bulls sustain a bid above 11900, THEN initial upside estimate targets 11940 – 11955 zone.
Bear Scenario: IF Bears sustain an offer below 11900, THEN initial downside estimate targets 11885 – 11880 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) 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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