Trade Strategy 11.6.23

Markets (Top Stories)

Source: SeekingAlpha.com

Economic Calendar

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

S&P 500

Prior Session was Cycle Day 3 (CD3):  Positive 3-Day Cycle as price exceeded objectives and closed near highs of the week. Prior range was 66 handles on 1.695M contracts exchanged. 

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1 (CD1): Average Decline measures 4357.50. Markets are holding gains achieved last week during overnight trade, which is relatively light volume to kick-off the new week. We’ll continue to maintain a long biased as Bulls remain in-control. Of course any structural shift in price dynamics would prompt a reassessment of bias to stay in alignment with dominant force. As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 4375, initially targets 4400 – 4405 zone. 

Bear Scenario: Price sustains an offer below 4375, initially targets 4355 – 4350 zone.

PVA High Edge = 4387       PVA Low Edge = 4365        Prior POC = 4380

Range Projections and Key Levels (ES) December 2023 (Z) Contract

HOD  ATR Range Projection: 4438; LOD ATR Range Projection: 4322; 3 Day Central Pivot: 4304; 3 Day Cycle Target: 4415; 10 Day Average True Range  64; VIX: 15

Nasdaq 100 (NQ)

Prior Session was Cycle Day 3 (CD3):  Positive 3-Day Cycle as price exceeded objectives and closed near highs of the week. Prior range was 303 handles on 625k contracts exchanged. 

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1 (CD1): Average Decline measures 15115. Markets are holding gains achieved last week during overnight trade, which is relatively light to kick-off the new week. We’ll continue to maintain a long biased as Bulls remain in-control. Of course any structural shift in price dynamics would prompt a reassessment of bias to stay in alignment with dominant force. As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 15160, initially targets 15230 – 15250 zone. 

Bear Scenario: Price sustains an offer below 15160, initially targets 15125 – 15115 zone.

PVA High Edge = 15216       PVA Low Edge = 15076     Prior POC = 15184

Range Projections and Key Levels (NQ) December 2023 (Z) Contract

HOD  ATR Range Projection: 15450; LOD ATR Range Projection: 14937; 3 Day Central Pivot: 14891; 3 Day Cycle Target: 15475; 10 Day Average True Range: 288; VIX: 15

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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