Trade Strategy 3.8.24

Markets (Top Stories)

Economic Calendar

https://www.investing.com/economic-calendar/

S&P 500

Prior Session was Cycle Day 3Three-Day Cycle Targets were fulfilled and even extended to Penetration Level before reversing and selling down into the closing bell. Overall this cycle was a “textbook” 3 Day Cycle. ***Learn more about the 3 Day Cycle with a Free Trial Offer below.  Range was 84 handles on 1.588M contracts exchanged.

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1Normal for a CD1 is a decline measuring 5121.75. Final trading day of the week with Bulls firmly in-control at new All-Time Highs, so it is theirs to lose. We’ll mark 5155 as today’s Line in the Sand. Projected Balance Target (PBT) measures 5225 with Cycle Target 5234 handle.

As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.

Scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 5155, initially targets 5165 – 5170 zone. 

Bear Scenario: Price sustains an offer below 5155, initially targets 5145 – 5140 zone.

PVA High Edge = 5168       PVA Low Edge = 5145         Prior POC = 5157

PTG 3 Day Cycle

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*****The 3 Day Cycle has a 90% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.

    Range Projections (ES) March 2024 (H)

Nasdaq 100 (NQ)

Prior Session was Cycle Day 3Three-Day Cycle Targets were fulfilled and even extended to Penetration Level before reversing and selling down into the closing bell. Overall this cycle was a “textbook” 3 Day Cycle. Range was 444 handles on 740K contracts exchanged.

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1Normal for a CD1 is a decline measuring 18108.75. Final trading day of the week with Bulls firmly in-control at new All-Time Highs, so it is theirs to lose. We’ll mark 18305 as today’s Line in the Sand. Projected Balance Target (PBT) measures 18631 which matches with Cycle Target 18607.

As always, our tactical trade plan remains unchanged…Stay in alignment with dominant intra-day forces.

Scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 18305, initially targets 18405 – 18430 zone. 

Bear Scenario: Price sustains an offer below 18305, initially targets 18175 – 18150 zone.

PVA High Edge = 18357       PVA Low Edge = 18187     Prior POC = 18314

Range Projections (NQ) March 2024 (H)

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!

Good Trading…David

“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.

This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

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

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