Markets (Top Stories)
Prior Session was Cycle Day 1 (CD1): Relatively shallow decline establishing a new cycle low at 4500 handle. Majority of the session held a dominant bid, consolidating the recent breakout. Prior range was 34 handles on 1.342M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Final trading day of the month can be a “toss-up” for the closing print, so place your bets for fun Bulls remain dominant, so it is theirs to lose ball control. As long as 4515, holds bid on pullbacks, potential for a strong close remains the primary potentiality. Upside Projected Balance Target (PBT) measure 4550 – 4555 target zone. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 4525, initially targets 4540 – 4545 zone.
Bear Scenario: Price sustains an offer below 4525, initially targets 4515 – 4490 zone.
PVA High Edge = 4513 PVA Low Edge = 4527 Prior POC = 4525
Range Projections and Key Levels (ES) Sept 2023 (U) Contract
Nasdaq 100 (NQ)
Prior Session was Cycle Day 1 (CD1): Relatively shallow decline establishing a new cycle low at 15360 handle. Majority of the session held a dominant bid, consolidating the recent breakout higher. Prior range was 161 handles on 586k contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Final trading day of the month can be a “toss-up” for the closing print, so place your bets for the closing tick. Bulls remain in full control, so it is theirs to lose ball control. As long as 15360 holds bid on pullbacks, potential for a strong close remains the primary potentiality. target zone 15750 – 15800. As such, scenarios to consider for today’s trading.
Bull Scenario: Price sustains a bid above 15500, initially targets 15750 – 15800 zone.
Bear Scenario: Price sustains an offer below 15500, initially targets 15370 – 15360 zone.
PVA High Edge = 15430 PVA Low Edge = 15218 Prior POC = 15373
Range Projections and Key Levels (NQ) Sept 2023 (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.
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.
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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 SHOWN