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Prior Session was Cycle Day 1 (CD1): Normal CD1 as price declined, establishing a new cycle low at 3711 during a “range-runner” session. Prior range was 94 handles on 2.427M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is trading higher during over night activity fulfilling Cycle/TargetMaster objectives near 3800 which matches with top end of prior session’s range. Normal for CD2 is for some consolidation to balance recent sessions. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3800, initially targets 3817 – 3820 zone.
Bear Scenario: Price sustains an offer below 3800, initially targets 3785 – 3780 zone.
PVA High Edge = 3772 PVA Low Edge = 3721 Prior POC = 3727
Range Projections and Key Levels (ES) December 2022 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Cycle Day 1 Low was established at 10636 as price swung widely throughout this session. Normal for CD2 is for some consolidation of recent sessions. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 10960, THEN initial upside estimate targets 11010– 11024 zone.
Bear Scenario: IF Bears sustains offer below 10960, THEN initial downside estimate targets 10890 – 10875 zone.
PVA High Edge = 10908 PVA Low Edge = 10734 Prior POC = 10815
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.
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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