2:00 PM FOMC Minutes
***New: PTG Trading Room Chat Log’s Link
***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Prior Session was Cycle Day 3 (CD3): Price declined early in the morning session successfully retesting the CD1 Low 4308 at which time reversal unfolded back to Initial Balance Midpoint (4334.75). Range was 42.75 handles on 1.238M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4206 which price tagged and reversed during prior session. Since the expected decline is currently in-place, today’s session may develop into a “balancing” day, where both upper and lower edges of prior range are tested. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4325, initially targets 4340 – 4345 zone.
2.) Price sustains an offer below 4325, initially targets 4310 – 4305 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 1 (CD1)
PVA High Edge = 4335 PVA Low Edge = 4312 Prior POC = 4319
Range Projections and Key Levels (ES) Sept 2021 (U) Contract
HOD ATR Range Projection: 4348; LOD ATR Range Projection: 4322; 3 Day Central Pivot: 4333; 3 Day Cycle Target: 4359; 10 Day Average True Range 22; VIX: 16
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…NQ is driving higher once again tyo new all-time high during overnight activity. Prior range was 165 handles on 498k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14782 PVA Low Edge = 14716 Prior POC = 14746
Bull Scenario: IF Bulls sustain a bid above 14790, THEN initial upside estimate targets 14848 – 14874 zone.
Bear Scenario: IF Bears sustain an offer below 14790, THEN initial downside estimate targets 14754 – 14740 zone.
Range Projections and Key Levels (NQ) Sept 2021 (U) Contract
HOD ATR Range Projection: 14866; LOD ATR Range Projection: 14755; 3 Day Central Pivot: 14692; 3 Day Cycle Target: 15011; 10 Day Average True Range: 113; VIX: 16
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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