***New: PTG Trading Room Chat Log’s Link
***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 1 (CD1): Price did produce a decline during the RTH Session, finding support at our lower target 4076, at which time reversal rally unfolded, closing near highs of session. Prior range was 88 handles on 1.608M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Three-Fourths of this Cycle’s Rally is in-place as bulls have the momentum to fulfill the upside objective (4173). Pullbacks are anticipated to elicit a buy response with current momentum favoring longs. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4135, initially targets 4155 – 4165 zone.
Bear Scenario: Price sustains an offer below 4135, initially targets 4120 – 4115 zone.
PVA High Edge = 4141 PVA Low Edge = 4089 Prior POC = 4135
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet > > Cycle Day 2 (CD2)
Range Projections and Key Levels (ES) June 2022 (M) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is currently holding bid above daily pivot (12612) during overnight trade. Normal for CD2 is for back n fill consolidation to absorb recent activity. As such, there are two estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12659, THEN initial upside estimate targets 12695 – 12703 zone.
Bear Scenario: IF Bears sustains offer below 12659, THEN initial downside estimate targets 12628 – 12612 zone.
PVA High Edge = 12732 PVA Low Edge = 12531 Prior POC = 12695
Range Projections and Key Levels (NQ) June 2022 (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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