8:30 Goods and Services Trade
8:55 Redbook Chain Store Sales
9:45 PMI Composite Final
10:00 ISM Service Index
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 1 (CD1): Normal CD1 unfolded as price declined early during RTH, setting the Low 1st, followed by rally…low retest…rally…settling with firm bid at closing bell. Range was 94.50 handles on 2.066M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Normal for CD2 is for consolidation of recent decline from prior session. Overnight activity has price trading marginally higher having fulfilled initial range objective (4312). As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4312, initially targets 4323 – 4328 zone.
2.) Price sustains an offer below 4312, initially targets 4295 – 4290 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4308 PVA Low Edge = 4268 Prior POC = 4280
Range Projections and Key Levels (ES) December 2021 (Z) Contract
HOD ATR Range Projection: 4345; LOD ATR Range Projection: 4252; 3 Day Central Pivot: 4320; 3 Day Cycle Target: 4316; 10 Day Average True Range 62; VIX: 22
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is trading back into prior value area, during overnight activity, following a day of heavy selling, lead by Facebook (FB). Prior range was 467 handles on 794k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14551 PVA Low Edge = 14368 Prior POC = 14412
Bull Scenario: IF Bulls sustain a bid above 14500, THEN initial upside estimate targets 14550 – 14580 zone.
Bear Scenario: IF Bears sustain an offer below 14500, THEN initial downside estimate targets 14450 – 14412 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
HOD ATR Range Projection: 14657; LOD ATR Range Projection: 14302; 3 Day Central Pivot: 14673; 3 Day Cycle Target: 14563; 10 Day Average True Range: 247; VIX: 22
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