Trade Strategy 7.26.23

Markets (Top Stories)

Source: SeekingAlpha.com

Economic Calendar

https://www.investing.com/economic-calendar/


S&P 500

***Written Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.

Prior Session was Cycle Day 2 (CD2): Price continued this Cycle’s Rally fulfilling upside Breakout Target Zone (4605 – 4608), Big Tech earnings after the close pushed price lower down to the session Value Area Low (4590).  Prior range was 29 handles on 1.151M contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Positive Three-Day Cycle Target is fulfilled, so we will mark today as a “wild-card” for direction. FOMC Presser will be the “key factor” for directional influence, so be prepared for some potential fireworks. As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 4590, initially targets 4605 – 4610 zone. 

Bear Scenario: Price sustains an offer below 4590, initially targets 4575 – 4570 zone.

PVA High Edge = 4598       PVA Low Edge = 4580         Prior POC = 4588

*****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 3 (CD3)

Range Projections and Key Levels (ES) Sept 2023 (U) Contract

HOD  ATR Range Projection: 4628; LOD ATR Range Projection: 4570; 3 Day Central Pivot: 4583; 3 Day Cycle Target: 4600; 10 Day Average True Range  37; VIX: 13

Nasdaq 100 (NQ)

Prior Session was Cycle Day 2 (CD2): Price continued this Cycle’s Rally fulfilling upside Breakout Target Zone (15720 – 15740), Big Tech earnings after the close pushed price lower. Prior range was 187 handles on 542k contracts exchanged. 

 …Transition from Cycle Day 2 to Cycle Day 3

This leads us into Cycle Day 3 (CD3): Positive Three-Day Cycle Target is fulfilled, so we will mark today as a “wild-card” for direction. FOMC Presser will be the “key factor” for directional influence, so be prepared for some potential fireworks. As such, scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 15650, initially targets 15720 – 15730 zone. 

Bear Scenario: Price sustains an offer below 15650, initially targets 15595 – 15580 zone.

PVA High Edge = 15715       PVA Low Edge = 15523     Prior POC = 15640

Range Projections and Key Levels (NQ) Sept 2023 (U) Contract

HOD  ATR Range Projection: 15855; LOD ATR Range Projection: 15505; 3 Day Central Pivot: 15609; 3 Day Cycle Target: 15770; 10 Day Average True Range: 234; VIX: 13

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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