9:45 PMI Composite Final
10:00 Factory Orders
10:00 ISM Service Index
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): This session was not only a “wild-card”, it was a “wild” session as price declined sharply down to 4006, but rallied sharply back higher, finally settling at 4066, to cap the week. Prior range was 79 handles on 1.768M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4003. Normal for CD1 is a decline to find a new secure cycle low. Overnight/pre-RTH activity has price quietly drifting lower in a relatively narrow range trade. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4050, initially targets 4070 – 4075 zone.
Bear Scenario: Price sustains an offer below 4050, initially targets 4025 – 4020 zone.
PVA High Edge = 4081 PVA Low Edge = 4044 Prior POC = 4058
Range Projections and Key Levels (ES) December 2022 (Z) Contract
HOD ATR Range Projection: 4114; LOD ATR Range Projection: 4013; 3 Day Central Pivot: 4059; 3 Day Cycle Target: 4181; 10 Day Average True Range 62; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 11733. Normal for CD1 is a decline to find a new secure cycle low. Overnight/pre-RTH activity has price quietly drifting lower in a relatively narrow range trade. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11935, THEN initial upside estimate targets 12000– 12015 zone.
Bear Scenario: IF Bears sustains offer below 11935, THEN initial downside estimate targets 11910 – 11900 zone.
PVA High Edge = 12009 PVA Low Edge = 11850 Prior POC = 11935
Range Projections and Key Levels (NQ) December 2022 (Z) Contract
HOD ATR Range Projection: 12200; LOD ATR Range Projection: 11758; 3 Day Central Pivot: 11952; 3 Day Cycle Target: 12423; 10 Day Average True Range: 257; VIX: 20
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