Trade Strategy 11.1.22

Markets

Source: SeekingAlpha.com

Economic Calendar

https://www.investing.com/economic-calendar/

***New: PTG Trading Room Chat Log’s Link

S&P 500

Prior Session was Cycle Day 3 (CD3): Positive 3-Day Cycle Statistic was fulfilled as price rolled back and consolidated recent gains in a “balancing-day.” Prior range was 42 handles on  1.885M contracts exchanged. 

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 3827. Normal for CD1 is a decline to find a new secure cycle low. Markets are skewed to the “buy-lean”  as FOMC Meeting gets underway with rate decision and presser tomorrow. As such, estimated scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 3885, initially targets 3925 – 3930 zone. 

Bear Scenario: Price sustains an offer below 3885, initially targets 3860 – 3855 zone.

PVA High Edge = 3895       PVA Low Edge = 3880         Prior POC = 3885

Range Projections and Key Levels (ES) December 2022 (Z) Contract

HOD  ATR Range Projection: 3955; LOD ATR Range Projection: 3848; 3 Day Central Pivot: 3857; 3 Day Cycle Target: 3990; 10 Day Average True Range  94; VIX: 25

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 11380. Prior range was 288 handles on 769k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

Bull Scenario: IF Bulls sustains bid above 11455, THEN initial upside estimate targets 11605– 11655 zone.

Bear Scenario: IF Bears sustains offer below 11455, THEN initial downside estimate targets 11385 – 11365 zone.

PVA High Edge = 11500       PVA Low Edge = 11425     Prior POC = 11435

Range Projections and Key Levels (NQ) December 2022 (Z) Contract

HOD  ATR Range Projection: 11747; LOD ATR Range Projection: 11294; 3 Day Central Pivot: 11365; 3 Day Cycle Target: 11848; 10 Day Average True Range: 378; VIX: 25

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.” –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.

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

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