Things fared a lot better over in the Far East, with shares in Hong Kong and Shanghai surging 3.4% and 2.2%, respectively.
Source: Seeking Alpha https://seekingalpha.com/
Prior Session was Cycle Day 3 (CD3): Positive 3 Day Cycle concluded Month End (May).
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Price is trading in neutral territory within 2-day range parameters. Main trend direction remains bullish with price near recovery highs.
P-VA High = 3030 P-VA Low = 3004 P-POC = 3013
Bull Scenario: IF Bulls hold bid above 3035, THEN initial upside estimate targets 3045 – 3055 zone
Bear Scenario: IF Bears hold offer below 3035, THEN initial downside estimate targets 3025 – 3020 zone.
Range Projections and Key Levels (ES) June 2020 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 1 (CD1)…Price remains in uptrend condition above 3 Day Central Pivot Zone (9418 – 9460).
P-VA High = 9460 P-VA Low = 9394 P-POC = 9417
Bull Scenario: IF Bulls hold bid above 9525, THEN initial upside estimate targets 9555 – 9565 zone.
Bear Scenario: IF Bears hold offer below 9525, THEN initial downside estimate targets 9505 – 9485 zone.
Range Projections and Key Levels (NQ) June 2020 (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.
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