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Prior Session was Cycle Day 2 (CD2): Markets extended this cycle’s rally surpassing upside objectives for a positive weekly close. Range was 138 handles on 1.475M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Bullish momentum remains in-place with cycle objectives fulfilled. Next “big-event” will be the quarterly rebalance to cap the first six-months. Bulls will be looking to maintain the current upswing, so it is theirs to lose. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 3925, initially targets 3945 – 3950 zone.
Bear Scenario: Price sustains offer below 3925, initially targets 3910 – 3900 zone.
PVA High Edge = 3916 PVA Low Edge = 3875 Prior POC = 3890
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has surpassed this cycle’s upside objectives during prior session and is extending those gains during overnight trade. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12210, THEN initial upside estimate targets 12272 – 12334 zone.
Bear Scenario: IF Bears sustains offer below 12210, THEN initial downside estimate targets 12148 – 12075 zone.
PVA High Edge = 12120 PVA Low Edge = 11933 Prior POC = 12050
Range Projections and Key Levels (NQ) Sept 2022 (U) 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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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 SHOWN6.22.22