Trade Strategy 11.8.21

Markets

Source: SeekingAlpha.com

Economic Calendar

9:00 Fed’s Clarida Speech
10:00 Fed’s Montgomery Speech
10:30 Jerome Powell Speech
12:00 PM Fed’s Harker: Economic Outlook
12:30 PM Investor Movement Index
1:00 PM Results of $56B, 3-Year Note Auction
1:50 PM Fed’s Evan Speech

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

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

S&P 500

Prior Session was Cycle Day 1 (CD1): Indexs yet again pushed to new all-time highs topping off a solid week of gains. Range was 44 handles on 1.331M contracts exchanged. 

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2 (CD2): Normal for CD2 is for back n fill consolidation to absorb recent rally gains. As such, estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 4690, initially targets 4706 – 4712 zone. 

2.) Price sustains an offer below 4690, initially targets 4675 – 4665 zone.

*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.

PVA High Edge = 4709       PVA Low Edge = 4690         Prior POC = 4707

Range Projections and Key Levels (ES) December 2021 (Z) Contract

HOD  ATR Range Projection: 4712; LOD ATR Range Projection: 4662; 3 Day Central Pivot: 4665; 3 Day Cycle Target: 4702; 10 Day Average True Range  33; VIX: 16.50

Nasdaq 100 (NQ)

Today is Cycle Day 2 (CD2)…Price is trading lower within 2-day value zone during overnight activity. Normal for Cycle Day 2 would be to consolidate recent gains. Prior range was 156 handles on 510k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 16440       PVA Low Edge = 16355     Prior POC = 16430

Bull Scenario: IF Bulls sustain a bid above 16315, THEN initial upside estimate targets 16353 – 16370 zone.

Bear Scenario: IF Bears sustain an offer below 16315, THEN initial downside estimate targets 16280 – 16250 zone.

Range Projections and Key Levels (NQ) December 2021 (Z) Contract

HOD  ATR Range Projection: 16443; LOD ATR Range Projection: 16176; 3 Day Central Pivot: 16238; 3 Day Cycle Target: 16556; 10 Day Average True Range: 187; VIX: 16.50

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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