8:30 Non-farm payrolls
8:30 Goods and Services Trade
1:00 PM Baker-Hughes Rig Count
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 2 (CD2): Early rally attempt failed as price sharply reversed direction, selling down past cycle extremes. Range was a whopping 121.75 handles on explosive 3.128M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is well below CD1 Low (3813) as increased potential for a “failed cycle”, which is non-recovery of CD1 Low. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 3780, initially targets 3800 – 3815 zone.
2.) Price sustains an offer below 3780, initially targets 3750 – 3745 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 3810 PVA Low Edge = 3722 Prior POC = 3760
Range Projections and Key Levels (ES) March 2021 (H) Contract
HOD ATR Range Projection: 3803; LOD ATR Range Projection: 3706; 3 Day Central Pivot: 3833; 3 Day Cycle Target: 3882; 10 Day Average True Range 73; VIX: 27
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is currently trading back within prior value zone. Prior range was 490 handles on 1.041M contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 12677 PVA Low Edge = 12416 Prior POC = 12444
Bull Scenario: IF Bulls sustain a bid above 12550, THEN initial upside estimate targets 12650 – 12675 zone.
Bear Scenario: IF Bears sustain an offer below 12550, THEN initial downside estimate targets 12450 – 12400 zone.
Range Projections and Key Levels (NQ) March 2021 (H) Contract
HOD ATR Range Projection: 12681; LOD ATR Range Projection: 12123; 3 Day Central Pivot: 12834; 3 Day Cycle Target: 12985; 10 Day Average True Range: 377; VIX: 27
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