8:30 Chicago Fed National Activity Index
10:00 New Home Sales
10:30 Dallas Fed Manufacturing Survey
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Friday’s Session was Cycle Day 3 (CD3): 3 Day Cycle Statistic was fulfilled with price oscillating within value zone to end the week without any resolution on stimulus talks. Range was 31 handles on 1.138M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Three-fourth’s of CD1 expected decline (3407) is in-place during overnight trade activity. As such, there are two scenarios to consider for today’s trading.
1.) Price sustains a bid above 3418, initially targets 3428 – 3432 zone.
2.) Price sustains an offer below 3418, initially targets 3412 – 3407 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3457 PVA Low Edge = 3443 Prior POC = 3450
Range Projections and Key Levels (ES) December 2020 (Z) Contract
HOD ATR Range Projection: 3460; LOD ATR Range Projection: 3398; 3 Day Central Pivot: 3441; 3 Day Cycle Target: 3445; 10 Day Average True Range 48; VIX: 30
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Normal for CD1 is decline with average measuring 11420 handle. For today’s trading, there are two scenarios to consider.
PVA High Edge = 11639 PVA Low Edge = 11577 Prior POC = 11622
Bull Scenario: IF Bulls sustain a bid above 11577, THEN initial upside estimate targets 11617 – 11640 zone.
Bear Scenario: IF Bears sustain an offer below 11577, THEN initial downside estimate targets 11550 – 11512 zone.
Range Projections and Key Levels (NQ) December 2020 (Z) Contract
HOD ATR Range Projection: 11782; LOD ATR Range Projection: 11402; 3 Day Central Pivot: 11652; 3 Day Cycle Target: 11632; 10 Day Average True Range: 238; VIX: 30
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