8:30 Empire State Mfg Survey
2:00 PM Fed’s Daly Speech
4:00 PM Treasury International Capital
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 1 (CD1): Quiet holiday trade saw price gap up from last week on continued bullish momentum. Range was 14 handles on 133k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price is trading slightly higher pre-RTH extending into upper Money Box Zone (3957 – 3959), then retreating back to test pre session value low (3945). Currently trading mid-range. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3952, initially targets 3959 – 3962 zone.
2.) Price sustains an offer below 3952, initially targets 3945 – 3943 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3952 PVA Low Edge = 3945 Prior POC = 3950
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3980; LOD ATR Range Projection: 3924; 3 Day Central Pivot: 3923; 3 Day Cycle Target: 3988; 10 Day Average True Range 35; VIX: 21
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently trading within overnight value zone. Prior Range was 68 handles on 60k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13861 PVA Low Edge = 13842 Prior POC = 13858
Bull Scenario: IF Bulls sustain a bid above 13860, THEN initial upside estimate targets 13900 – 13910 zone.
Bear Scenario: IF Bears sustain an offer below 13860, THEN initial downside estimate targets 13845 – 13820 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 13995; LOD ATR Range Projection: 13750; 3 Day Central Pivot: 13765; 3 Day Cycle Target: 14055; 10 Day Average True Range: 150; 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.”
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