10:00 Consumer Sentiment
12:30 PM Fed’s Waller Speech
1:00 PM Baker-Hughes Rig Count
Prior Session was Cycle Day 2 (CD2): Early buying fell apart as lower range parameters were violated, triggering long liquidation selling, which drove price down over 92 handles. There was no place to hide for the bulls as “bricks on ticks” accelerated throughout the session.
One of the core advantages of being in the PTG active trading community is the guidance from yours truly to #1) keep you out of harms way and #2) guide you to profitable trade opportunities. Here is example from yesterday’s session: “:(11:08:28 AM) : Shift of course now is for sells on retracements.” Prior range was 92 handles on 1.776M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is currently below CD1 Low (4121.25) as selling continues to spill-over during overnight activity. Bulls will need to recover the CD1 Low to avert a failed cycle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4075, initially targets 4095 – 4100 zone.
Bear Scenario: Price sustains an offer below 4075, initially targets 4050 – 4045 zone.
PVA High Edge = 4145 PVA Low Edge = 4078 Prior POC = 4092
Range Projections and Key Levels (ES) March 2023 (H) Contract
HOD ATR Range Projection: 4133; LOD ATR Range Projection: 4026; 3 Day Central Pivot: 4137; 3 Day Cycle Target: 4121; 10 Day Average True Range 72; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently below CD1 Low (4121.25) as selling continues to spill-over during overnight activity. Bulls will need to recover the CD1 Low to avert a failed cycle. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12325, THEN initial upside estimate targets 12375– 12400 zone.
Bear Scenario: IF Bears sustains offer below 12325, THEN initial downside estimate targets 12235 – 12225 zone.
PVA High Edge = 12725 PVA Low Edge = 12523 Prior POC = 12688
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 12598; LOD ATR Range Projection: 12123; 3 Day Central Pivot: 12605; 3 Day Cycle Target: 12513; 10 Day Average True Range: 328; 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!
“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.”
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