8:30 Empire State Mfg Survey
10:00 NAHB Housing Market Index
10:00 Fed’s Bostic: Economic Outlook
10:05 Fed’s Clarida Speech
12:30 PM Fed’s Bostic Speech
6:00 PM Fed’s Kaplan Speech
***New: PTG Trading Room Chat Log’s Link
Prior Session was Cycle Day 2 (CD2): End of week buying spree unfolded during this CD2 day as price trended higher throughout the session, exceeding cycle objectives and closing near high of day. Prior range was 73 handles on 1.387M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Three-Day Cycle Objective has been fulfilled. Price is currently trading slightly lower during overnight trade, following a strong end-of-week performance. As such, there are two estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4150, initially targets 4170 – 4175 zone.
2.) Price sustains an offer below 4150, initially targets 4130 – 4125 zone.
*****3 Day Cycle has a 91% probability of fulfilling Positive Statistic covering 12 years of recorded tracking history.
PVA High Edge = 4177 PVA Low Edge = 4146 Prior POC = 4172
Range Projections and Key Levels (ES) June 2021 (M) Contract
HOD ATR Range Projection: 4208; LOD ATR Range Projection: 4121; 3 Day Central Pivot: 4108; 3 Day Cycle Target: 4098; 10 Day Average True Range 58; VIX: 20
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has fulfilled 3 Day Cycle Statistic is currently trading near prior session’s Point of Control (13358) pre-RTH. Prior range was 355 handles on 451k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 13423 PVA Low Edge = 13242 Prior POC = 13358
Bull Scenario: IF Bulls sustain a bid above 13358, THEN initial upside estimate targets 13430 – 13470 zone.
Bear Scenario: IF Bears sustain an offer below 13358, THEN initial downside estimate targets 13242 – 13220 zone.
Range Projections and Key Levels (NQ) June 2021 (M) Contract
HOD ATR Range Projection: 13597; LOD ATR Range Projection: 13168; 3 Day Central Pivot: 13152; 3 Day Cycle Target: 13242; 10 Day Average True Range: 280; 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.
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