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Prior Session was Cycle Day 2 (CD2): The 3 day rally is in place, therefore the decline could start at any time. Having said that, since we closed on the high’s of the day, momentum may take markets higher before the decline starts. Range was 88 handles on 1.438M contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Price is indeed continuing this cycle’s rally past targets, extending to CD3 Penetration Zone between 3905 – 3910. Momentum is obviously with the bulls, so it is theirs to lose. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: Price sustains bid above 3890, initially targets 3905 – 3915 zone.
Bear Scenario: Price sustains offer below 3890, initially targets 3875 – 3870 zone.
PVA High Edge = 3865 PVA Low Edge = 3837 Prior POC = 3857
Range Projections and Key Levels (ES) Sept 2022 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has fulfilled this cycle’s upside objective (11928) and is extending this rally’s gains into CD3 Penetration Zone between 12161 – 12180 during GLOBEX Session. As such, estimated scenarios to consider for today’s trading.
Bull Scenario: IF Bulls sustains bid above 12130, THEN initial upside estimate targets 12161 – 12180 zone.
Bear Scenario: IF Bears sustains offer below 12130, THEN initial downside estimate targets 12105 – 12090 zone.
PVA High Edge = 11995 PVA Low Edge = 11900 Prior POC = 11979
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