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Prior Session was Cycle Day 2 (CD2): Normal CD2 unfolded on this cycle day as bulls repelled multiple selling onslaughts by Da Bears. Range was 75 handles on 1.455M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Bulls have regained control heading into week-end as price is trading above 4-day highs pre-RTH, fulfilling upside CD3 Penetration Target Zone (4311 – 4316). We’ll mark today as a “wild-card” since cycle objectives have been achieved. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4300, initially targets 4315 – 4325 zone.
Bear Scenario: Price sustains offer below 4300, initially targets 4285 – 4275 zone.
PVA High Edge = 4245 PVA Low Edge = 4206 Prior POC = 4218
Range Projections and Key Levels (ES) June 2022 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Bulls have regained control at week-end following a CD2 “normal” balancing day. We’ll mark today as a “wild-card” since cycle objectives have been achieved. Prior range was 382 handles on 577k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 13778, THEN initial upside estimate targets 13835 – 13890 zone.
Bear Scenario: IF Bears sustains offer below 13778, THEN initial downside estimate targets 13734 – 13720 zone.
PVA High Edge = 13630 PVA Low Edge = 13472 Prior POC = 13573
Range Projections and Key Levels (NQ) June 2022 (M) 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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