Trade Strategy 8.1.22

Markets

Source: SeekingAlpha.com

Economic Calendar

9:45 PMI Manufacturing Index
10:00 Construction Spending
10:00 ISM Manufacturing Index
1:00 PM Baker-Hughes Rig Count

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

***New: PTG Trading Room Chat Log’s Link

S&P 500

Prior Session was Cycle Day 3 (CD3): Three-Day Cycle Objectives were fulfilled as price ended the month with a firm bid. Range was 63 handles on 1.819M contracts exchanged. 

 …Transition from Cycle Day 3 to Cycle Day 1

This leads us into Cycle Day 1 (CD1): Average Decline for CD1 measures 4049. Price starts the new month with a firm bid as bulls currently have complete ball control and it is theirs to lose. We’ll mark 4110 as key Line-in-the-Sand for over/under. As such, estimated scenarios to consider for today’s trading.

Bull Scenario: Price sustains a bid above 4110, initially targets 4130 – 4135 zone. 

Bear Scenario: Price sustains an offer below 4110, initially targets 4095 – 4090 zone.

PVA High Edge = 4143       PVA Low Edge = 4105         Prior POC = 4133

Range Projections and Key Levels (ES) Sept 2022 (U) Contract

HOD  ATR Range Projection: 4192; LOD ATR Range Projection: 4056; 3 Day Central Pivot: 4063; 3 Day Cycle Target: 4230; 10 Day Average True Range  81; VIX: 22

Nasdaq 100 (NQ)

Today is Cycle Day 1 (CD1)…Today is CD1 with Average Decline measuring 12630. As such, there are two estimated scenarios to consider for today’s trading.

Bull Scenario: IF Bulls sustains bid above 12900, THEN initial upside estimate targets 12950 – 12975 zone.

Bear Scenario: IF Bears sustains offer below 12900, THEN initial downside estimate targets 12870 – 12850 zone.

PVA High Edge = 12938       PVA Low Edge = 12808     Prior POC = 12892

Range Projections and Key Levels (NQ) Sept 2022 (U) Contract

HOD  ATR Range Projection: 13258; LOD ATR Range Projection: 12543; 3 Day Central Pivot: 12274; 3 Day Cycle Target: 13385; 10 Day Average True Range: 355; VIX: 22

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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