Trade Strategy 5.17.24

Markets (Top Stories)

Economic Calendar

Source: Investing.com

S&P 500 (ES)

Prior Session was Cycle Day 1: Price momentum did spill over into today’s session skimming our upper target (5350) by four ticks (5349) which turned out to be the HOD.

We posted in trading room:

PTGDavid : (12:02:57 PM) : Remember today is Cycle Day 1 …Upside extension essentially has been fulfilled…So a break and hold below VWAP may offer short plays for an afternoon decline

Price did in-fact decline and once again skimmed by four ticks, our lower target (5315)..LOD = 5316. What are the odds of that happening twice! Range was 33 handles on 1.164M contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2Cycle Low was established at 5316, so with price closing near lows, momentum may push price lower before this cycle rally begins. Given that today is OPEX, we’ll be mindful of the “push n pull” of options flows dominating the rhythms. 

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

As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 5315, initially targets 5325 – 5330 zone. 

Bear Scenario: Price sustains an offer below 5315, initially targets 5305 – 5300 zone.

PVA High Edge = 5251       PVA Low Edge = 5242         Prior POC = 5244

PTG 3 Day Cycle

EXCLUSIVE OFFER

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

    Range Projections (ES) June 2024 (M)

Nasdaq 100 (NQ)

Prior Session was Cycle Day 1: Price momentum did spill over into today’s session fulfilling our upside target zone (18745 – 18750) as published in DTS Briefing 5.16.24. Range was 127 handles on 542k contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2Cycle Low was established at 18633.25, so with price closing near lows, momentum may push price lower before this cycle rally begins. Given that today is OPEX, we’ll be mindful of the “push n pull” of options flows dominating the rhythms. 

As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 18640, initially targets 18695 – 18705 zone. 

Bear Scenario: Price sustains an offer below 18640, initially targets 18595 – 18575 zone.

PVA High Edge = 18727       PVA Low Edge = 18677     Prior POC = 18690

Range Projections (NQ) June 2024 (M)

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.” 

*****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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