Trade Strategy 10.30.24 | Polaris Trading Group for Stocks and Futures Traders

S&P 500

Prior Session was Cycle Day 2: Prior session’s trade strategy (see recap link below) played like a “well-tuned fiddle” fulfilling both downside and upside respective target zones. Range widened and volumes increased, providing ample trade opportunities.

For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.29.24

Check out the link to learn more about the Taylor Cycle and secure your FREE TRIAL.

…Transition from Cycle Day 2 to Cycle Day 3

Transition into Cycle Day 3: Price closed nears highs of the day with bulls firmly in-control. Bullish GOOGL earnings providing after hours bid. Expectation for today’s session is further rally potential with 3-Day Cycle Statistic (92%) fulfilled with higher targets remaining open.

Next section is repost from prior briefing:

As we all are keenly aware, markets rotate from contractionary periods (range) to expansionary periods (trend). We also know that markets spend the majority of the time in contraction (range) consolidations as it is continually absorbing incoming information from a plethora of sources. Building up energy for the next expansionary (trend) period.

Our job is to defer to the current rhythms and exercise patience, perhaps by reviewing our trade plans and preparing for the various scenarios that could unfold and how we are going to respond. Make use of the quiet contraction period, so as to be prepared for the inevitable expansion period.

This week is fulfilled with Tech Earnings Reports which is anticipated to be the main driver of market activity. We’ll continue to remain our discipline in maintaining positioning that is aligned with market forces and continues to serve us well, so stay the course.

As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 5880, initially targets 5895 – 5900 zone.

Bear Scenario: Price sustains an offer below 5880, initially targets 5865 – 5860 zone.

PVA High Edge = 5881 PVA Low Edge = 5860 Prior POC = 5878

ES (Profile)

Nasdaq 100 (NQ)

Prior Session was Cycle Day 2: Prior session’s trade strategy Bull and Bear Scenarios were fulfilled and exceeded as price momentum loosened up, allowing traders to widen the range, which increased trade opportunities.

For a more detailed recap of the trading session, click on this link: Trading Room RECAP 10.29.24

…Transition from Cycle Day 2 to Cycle Day 3

Next section is repost from prior briefing:

Earnings: 10/30/24 >>> META, MSFT 10/31/24 >>> AAPL, AMZN

As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 20735, initially targets 20805– 20850 zone.

Bear Scenario: Price sustains an offer below 20735, initially targets 20665 – 20630 zone.

PVA High Edge = 20667 PVA Low Edge = 20443 Prior POC = 20491

NQ Chart (Profile)

Economic Calendar

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!

Good Trading…David

“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –BR

*****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.

Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose.

This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

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