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Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new cycle low at 4024.75. Prior range was 22 handles on 455k contracts exchanged due to holiday shortened trading.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is trading lower, extending this cycle’s decline post holiday during overnight activity. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4005 initially targets 4020 – 4025 zone.
Bear Scenario: Price sustains an offer below 4005, initially targets 3995 – 3990 zone.
PVA High Edge = 4037 PVA Low Edge = 4030 Prior POC = 4035
Range Projections and Key Levels (ES) December 2022 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Normal CD1 as price declined, establishing a new cycle low at 11766. Prior range was 158 handles on 191k contracts exchanged due to holiday shortened trading. Price is trading lower, extending this cycle’s decline post holiday during overnight activity.As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11698, THEN initial upside estimate targets 11730 – 11750 zone.
Bear Scenario: IF Bears sustains offer below 11698, THEN initial downside estimate targets 11650 – 11640 zone.
PVA High Edge = 11819 PVA Low Edge = 11777 Prior POC = 11797
Range Projections and Key Levels (NQ) December 2022 (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.”
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.
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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