Trade Strategy 5.6.24

Markets (Top Stories)

Economic Calendar

Source: Investing.com

S&P 500 (ES)

Prior Session was Cycle Day 1: Bullish momentum resulted in a gap higher opening which held through out this session fulfilling cycle day range target (5161). Bulls sustained bid into the closing bell with a bullish imbalanced profile pattern. Range was 67 handles on 1.541M contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2: Average Rally for CD2 (5161) is in-place, so we’ll be anticipating a “normal”  back n fill CD2, though with bullish momentum dominant, further upside potential remains. No economic reports for today, so market is “free to move about the cabin”, but keep seatbelt securely fastened. 

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 5160, initially targets 5175 – 5180 zone. 

Bear Scenario: Price sustains an offer below 5140, initially targets 5125 – 5120 zone.

PVA High Edge = 5160       PVA Low Edge = 5140         Prior POC = 5155

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) June 2024 (M)

Nasdaq 100 (NQ)

Prior Session was Cycle Day 1: Bullish momentum resulted in a gap higher opening which held through out this session fulfilling cycle day range target (18003). Bulls sustained bid into the closing bell with a bullish imbalanced profile pattern. Range was 330 handles on 546k contracts exchanged

 …Transition from Cycle Day 1 to Cycle Day 2

This leads us into Cycle Day 2: Average Rally for CD2 (18003) is in-place, so we’ll be anticipating a “normal”  back n fill CD2, though with bullish momentum dominant, further upside potential remains. No economic reports for today, so market is “free to move about the cabin”, but keep seatbelt securely fastened. 

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

Bull Scenario: Price sustains a bid above 18025, initially targets 18066 – 18097 zone. 

Bear Scenario: Price sustains an offer below 17930, initially targets 17840 – 17810 zone.

PVA High Edge = 18022       PVA Low Edge = 17932     Prior POC = 17995

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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