Trade Strategy 2.10.21

Markets

Source: SeekingAlpha.com

Economic Calendar

8:30 Consumer Price Index
10:00 Atlanta Fed’s Business Inflation Expectations
10:00 Wholesale Inventories (Preliminary)
10:30 EIA Petroleum Inventories
1:00 PM Results of $41B, 10-Year Note Auction
2:00 PM Jerome Powell Speech
2:00 PM Treasury Statement

https://www.investing.com/economic-calendar/

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


10:30 EIA Petroleum Inventories

S&P 500

***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.

Tuesday’s Session was Cycle Day 3 (CD3): Price consolidated throughout the session but with buyers still aggressively responding on the dips. Value continues to shift higher with new all-time highs this week. Range was 18.25 handles on 861k contracts exchanged with a marked decrease in both metrics.

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1 (CD1): Normal for CD1 is for some magnitude decline, with the average measuring 3885. Having closed near the high of the day, momentum may push price higher before the decline starts. As such, there are two estimated scenarios to consider for today’s trading.

1.) Price sustains a bid above 3910, initially targets 3920 – 3922 zone.

2.) Price sustains an offer below 3910, initially targets 3900 – 3885 zone.

*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic 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 (CD2)

PVA High Edge = 3909       PVA Low Edge = 3901         Prior POC = 3906

Range Projections and Key Levels (ES) March 2021 (H) Contract

HOD  ATR Range Projection: 3964; LOD ATR Range Projection: 3866; 3 Day Central Pivot: 3895; 3 Day Cycle Target: 3924; 10 Day Average True Range  58; VIX: 21

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Price is trading above prior range during pre-RTH trading. Prior range was 279 handles on 483k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.

PVA High Edge = 13705       PVA Low Edge = 13665      Prior POC = 13695

Bull Scenario: IF Bulls sustain a bid above 13735, THEN initial upside estimate targets 13770 – 13790 zone.

Bear Scenario: IF Bears sustain an offer below 13735, THEN initial downside estimate targets 13705 – 13670 zone.

Range Projections and Key Levels (NQ) March 2021 (H) Contract

HOD  ATR Range Projection: 13914; LOD ATR Range Projection: 13535; 3 Day Central Pivot: 13644; 3 Day Cycle Target: 13764; 10 Day Average True Range: 235; VIX: 21

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 SHOWN


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