U.S. futures are pressing higher pre-RTH, with the Dow and S&P 500 advancing 0.76% and Nasdaq up 0.56%
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Prior Session was Taylor “textbook” Cycle Day 3 (CD3): Early gap rally stalled precisely at CD3 Penetration Level (3689) where solid resistance rejected buyers, at which time reversal occurred during the 11 – 12 o’clock hour.
Afternoon Session was all selling, pushing price down to and past Cycle Range Objective (3642.50), which is now Cycle Day 1 Low. Range was 54 handles on 1.365M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is some magnitude decline, with average measuring 3642.50 which was fulfilled during prior session’s sell-off. Overnight bounce attempt has pushed price back to 3665 and back within prior value zone. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3660, initially targets 3670 – 3675 zone.
2.) Price sustains an offer below 3660, initially targets 3650 – 3645 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3690 PVA Low Edge = 3660 Prior POC = 3689
Range Projections and Key Levels (ES) March 2021 (H) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is trading at upper edge prior session’s value zone. Prior Range was 161 handles on 339k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12590 PVA Low Edge = 12485 Prior POC = 12518
Bull Scenario: IF Bulls sustain a bid above 12518, THEN initial upside estimate targets 12545 – 12550 zone.
Bear Scenario: IF Bears sustain an offer below 12518, THEN initial downside estimate targets 12485 – 12465 zone.
Range Projections and Key Levels (NQ) March 2021 (H) 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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