FOMC meeting begins
8:30 Import/Export Prices
8:30 Retail Sales
8:55 Redbook Chain Store Sales
9:15 Industrial Production
10:00 Business Inventories
10:00 NAHB Housing Market Index
1:00 PM Results of $24B, 20-Year Bond Auction
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 3 (CD3): Morning Session sell-down in price to support offered an opportunity to “BTFD” as Mutual Fund Monday played out in classic fashion. Also classic was the ‘Dip n Rip’ into the closing rotation. This scenario was “tee’d-up” for Community Members in the PTG Live Trade Room. View the PTG Trading Room Chat Log 03.15.21 for more detail how we played the Closing Long beginning at the 3:15:52 time marker. Range was 47.25 handles on 1.049M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Normal for CD1 is for a decline with average measuring 3903. Price closed with strong outgoing bullish momentum, which may carry-over into today’s session before the next decline begins. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3960, initially targets 3973 – 3978 zone.
2.) Price sustains an offer below 3960, initially targets 3945 – 3940 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3945 PVA Low Edge = 3926 Prior POC = 3930
Range Projections and Key Levels (ES) June 2021 (M) Contract
HOD ATR Range Projection: 4017; LOD ATR Range Projection: 3898; 3 Day Central Pivot: 3929; 10 Day Average True Range 66; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price is currently trading above prior range, fulfilling CD1 Penetration Level (13117) during Globex Session. Prior Range was 227 handles on 311k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12975 PVA Low Edge = 12899 Prior POC = 12936
Bull Scenario: IF Bulls sustain a bid above 13117, THEN initial upside estimate targets 13150 – 13175 zone.
Bear Scenario: IF Bears sustain an offer below 13117, THEN initial downside estimate targets 13089 – 13055 zone.
Range Projections and Key Levels (NQ) June 2021 (M) Contract
HOD ATR Range Projection: 13418; LOD ATR Range Projection: 127978; 3 Day Central Pivot: 12963; 10 Day Average True Range: 370; VIX: 20
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.
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.
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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