***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 3 (CD3): Another Wide “Range Runner” Session as upper Cycle Range Targets were fulfilled before price dove back to 3800 level midday, only to rip back higher to settle Mid-POC VWAP Zone. Prior range was 74 handles on 1.804M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for this Cycle Day measures 3833. Continue to anticipate wide trading ranges which have become more commonplace. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3825, initially targets 3845 – 3850 zone.
Bear Scenario: Price sustains an offer below 3825, initially targets 3810 – 3805 zone.
PVA High Edge = 3847 PVA Low Edge = 3811 Prior POC = 3825
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet > > Cycle Day 1 (CD1)
Range Projections and Key Levels (ES) December 2022 (Z) Contract
HOD ATR Range Projection: 3987; LOD ATR Range Projection: 3774; 3 Day Central Pivot: 3794; 3 Day Cycle Target: 3851; 10 Day Average True Range 93; VIX: 25
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for this Cycle Day measures 10877. Continue to anticipate wide trading ranges which have become more commonplace. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11065, THEN initial upside estimate targets 11140– 11200 zone.
Bear Scenario: IF Bears sustains offer below 11065, THEN initial downside estimate targets 11000 – 10950 zone.
PVA High Edge = 11140 PVA Low Edge = 11014 Prior POC = 11065
Range Projections and Key Levels (NQ) December 2022 (Z) Contract
HOD ATR Range Projection: 11320; LOD ATR Range Projection: 10864; 3 Day Central Pivot: 11948; 3 Day Cycle Target: 11418; 10 Day Average True Range: 380; VIX: 25
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