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Prior Session was Cycle Day 3 (CD3): Price was unable to recover CD1 Low; As such, a “failed” 3-Day Cycle is logged. Prior range was 47 handles on 1.658M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 3875. Normal for CD1 is a decline to find a new secure cycle low. Two-day consolidation near lows has created a “b-shaped” volume profile and a “poor-low” which suggests further downside is required to balance this inherently unstable pattern. Projected Balance Target (PBT) targets 3895 handle. Of course we’ll take our trading cues from Mr. Roboto and follow its lead. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 3935, initially targets 3950 – 3955 zone.
Bear Scenario: Price sustains an offer below 3935, initially targets 3920 – 3915 zone.
PVA High Edge = 3945 PVA Low Edge = 3932 Prior POC = 3941
Range Projections and Key Levels (ES) December 2022 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Average Decline for CD1 measures 11248. Normal for CD1 is a decline to find a new secure cycle low. Two-day consolidation near lows has created a “b-shaped” volume profile and a “poor-low” which suggests further downside is required to balance this inherently unstable pattern. Projected Balance Target (PBT) targets 11360 handle. Of course we’ll take our trading cues from Mr. Roboto and follow its lead. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 11510, THEN initial upside estimate targets 11565– 11585 zone.
Bear Scenario: IF Bears sustains offer below 11510, THEN initial downside estimate targets 11445 – 11425 zone.
PVA High Edge = 11533 PVA Low Edge = 11474 Prior POC = 11510
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