Trade Strategy 11.8.22

Markets

Economic Calendar

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

S&P 500

Prior Session was Cycle Day 2 (CD2): Bullish momentum remained intact for this cycle day as price fulfilled 3 Day Cycle Objective (3817) as well as extension Penetration Levels. Range was 83 handles on 1.378M contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Momentum may take price higher before the next decline begins. Today’s Line-In-Sand (LIS) is 3821.50 prior high. Bulls will need to keep the bid above this level to push for higher ground. Failure to do so may lead price retreating back into prior range to find renewed buy interest. As such, estimated scenarios to consider for today’s trading.

Bull Scenario: Price sustains bid above 3821, initially targets 3840 – 3845 zone. 

Bear Scenario: Price sustains offer below 3821, initially targets 3805 – 3800 zone.

PVA High Edge = 3898       PVA Low Edge = 3833        Prior POC = 3847

Range Projections and Key Levels (ES) December 2022 (Z) Contract

HOD  ATR Range Projection: 3874; LOD ATR Range Projection: 3757; 3 Day Central Pivot: 3764; 3 Day Cycle Target: 3817; 10 Day Average True Range  94; VIX: 24

Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD3)…Price fulfilled Cycle Objective (11023) during prior bullish session as trend conditions remain intact. Bulls will need to keep the bid above this level to push for higher ground. Failure to do so may lead price retreating back into prior range to find renewed buy interest. As such, estimated scenarios to consider for today’s trading.

Bull Scenario: IF Bulls sustains bid above 11038, THEN initial upside estimate targets 11095 – 11105 zone.

Bear Scenario: IF Bears sustains offer below 11038, THEN initial downside estimate targets 10970 – 10955 zone.

PVA High Edge = 11048       PVA Low Edge = 10962     Prior POC = 11004

Range Projections and Key Levels (NQ) December 2022 (Z) Contract

HOD  ATR Range Projection: 11249; LOD ATR Range Projection: 10800; 3 Day Central Pivot: 11858; 3 Day Cycle Target: 11288; 10 Day Average True Range: 379; VIX: 24

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 SHOWN6.22.22

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