Trade Strategy 6.12.18

Markets
 
In Asia, Japan +0.3%. Hong Kong +0.1%. China +0.9%. India +0.6%
In Europe, at midday, London -0.3%. Paris -0.2%. Frankfurt flat. 
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude +0.3% to $66.29. Gold -0.1% to $1302.40. Bitcoin -0.5% to $6843. 
Ten-year Treasury Yield flat at 2.96%
 
(Source: Seeking Alpha)
 
Economic Calendar

FOMC meeting begins
6:00 NFIB Small Business Optimism Index
8:30 Consumer Price Index
8:55 Redbook Chain Store Sales
1:00 PM Results of $14B, 30-Year Note Auction
2:00 PM Treasury Budget

S&P 500

Today is Cycle Day 3 (CD2)…Price fulfilled stated targets in prior session and subsequently pulled back to support 2782 handle. Bulls will need now to convert 2792 to upper support, while Bears want preferably below 2782 handle. Contract Rollover remains in-effect.

Market Bias: Bullish

CD3 Range High = 2805.00          CD3 Range Low = 2759.50          CD3 Range Avg = 22.50 

Scenario 1: IF price clears and converts 2792, THEN upside objective measures 2798 – 2803 zone.

Scenario 2: IF price violates and converts 2782, THEN downside objective measures 2776 – 2771 zone.

Range Projections and Key Levels (ES) September (U) Contract

HOD  ATR Range Projection: 2803.00; LOD ATR Range Projection: 2771.50; Cycle Day 1 Low: 2739.00; 3 Day Central Pivot: 2740.00; 3 Day Cycle Target: 2782.00; 10 Day Average True Range 20.00; VIX: 12.54

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Nasdaq 100 (NQ)

Today is Cycle Day 3 (CD2)…Price fulfilled stated targets in prior session and subsequently pulled back to support 7182 handle. Bulls will need now to convert 7200 to upper support, while Bears want preferably below 7170 handle. Contract Rollover remains in-effect.

Market Bias: Bullish

CD3 Range High = 7232.00          CD3 Range Low = 7160.50          CD3 Range Avg = 51.00

Scenario 1: IF price clears and converts 7212, THEN upside objective measures 7232 – 7250 zone.

Scenario 2: IF price violates and converts 7170, THEN downside objective measures 7150 – 7125 zone.

Range Projections and Key Levels (NQ) September (U) Contract

HOD  ATR Range Projection: 7249.50; LOD ATR Range Projection: 7143.50; Cycle Day 1 Low: 7138.50; 3 Day Central Pivot: 7178.25; 3 Day Cycle Target: 7200.50; 10 Day Average True Range: 67.75; VIX: 12.54

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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.” –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


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