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***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Tuesday’s Session was Cycle Day 1 (CD1): Price recovered it’s prior session losses as trend day down (CD3), was replaced with trend day up (CD1). Market does not appear to have a consensus of value, given a multi-modal profile pattern. Range was 76.25 handles on 1.812M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price has recovered back up to 3 Day Central Pivot Zone (4313-4321) during prior session. Normal for CD2 is for some balancing recent down and up back-to-back trend days, in search of accepted value consensus. We anticipate this process may take several sessions to be worked out. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4310, initially targets 4330 – 4345 zone.
2.) Price sustains an offer below 4310, initially targets 4285 – 4280 zone.
*****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)
PVA High Edge = 4329 PVA Low Edge = 4280 Prior POC = 4317
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price rebounded in prior session, erasing the recent losses. Normal for CD2 is for some ‘back n fill’ price action to balance out recent swings. Prior range was 266 handles on 521k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14714 PVA Low Edge = 14517 Prior POC = 14608
Bull Scenario: IF Bulls sustain a bid above 14660, THEN initial upside estimate targets 14714 – 14745 zone.
Bear Scenario: IF Bears sustain an offer below 14660, THEN initial downside estimate targets 14630 – 14610 zone.
Range Projections and Key Levels (NQ) Sept 2021 (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.”
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