***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 2 (CD2): Markets did produce the “relief-rally” we opined in prior DTS Briefing 5.13.22 to squelch recent selling momentum. Range was 120 handles on 1.789M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Cycle Target (3970) is in-place, and price is well above CD1 Low (3855), as overnight trade is relatively stable with an underlying bid at the daily pivot (3988). As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 4015, initially targets 4035 – 4040 zone.
Bear Scenario: Price sustains offer below 4015, initially targets 3990 – 3980 zone.
PVA High Edge = 4030 PVA Low Edge = 3988 Prior POC = 4015
Range Projections and Key Levels (ES) June 2022 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price is maintaining a stable bid during overnight trade following prior session’s “relief-rally.” Cycle Targets have been fulfilled, and price is well above CD1 Low (11689). As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12320, THEN initial upside estimate targets 12432 – 12490 zone.
Bear Scenario: IF Bears sustains offer below 12320, THEN initial downside estimate targets 12250 – 12230 zone.
PVA High Edge = 12428 PVA Low Edge = 12235 Prior POC = 12372
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.
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