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***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Tuesday’s Session was Cycle Day 2 (CD2): Opening Drive propelled price higher to reach CD2 Penetration Level (4708) and 3-Day Cycle Objective (4702). Range was 39 handles on 993k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Bullish momentum may push price higher, although since 3 Day Cycle objectives have been fulfilled, a corrective pullback could begin at any time. We’ll mark today as a “wild-card” for direction, with primary lean favoring the bulls. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4690, initially targets 4710 – 4715 zone.
2.) Price sustains an offer below 4690, initially targets 4680 – 4675 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet > > Cycle Day 3 (CD3)
PVA High Edge = 4709 PVA Low Edge = 4690 Prior POC = 4703
Range Projections and Key Levels (ES) December 2021 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is pressing against highs during overnight trade activity with 3 Day Cycle objectives fulfilled. Prior range was 182 handles on 420k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 16323 PVA Low Edge = 16218 Prior POC = 16293
Bull Scenario: IF Bulls sustain a bid above 16323, THEN initial upside estimate targets 16349 – 16357 zone.
Bear Scenario: IF Bears sustain an offer below 16323, THEN initial downside estimate targets 16297 – 16292 zone.
Range Projections and Key Levels (NQ) December 2021 (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.”
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